CSRD Software and Services
Danesmead Advisory’s CSRD team manages the entire project, supported by our end-to-end software solution. Our purpose-built CSRD software provides a seamless Double Materiality Assessment and data collection platform.
We support clients through the entire process by providing sustainability and regulatory expertise at each stage. Our service model facilitates “full support”, “consulting light” and “software only” offerings which allow companies to transition into self-service users longer term if desired.
We Support You With:
Scoping
We provide high-level scoping guidance regarding whether you and/or your portfolio companies are in scope for CSRD reporting and when you are required to start gathering data.
Double Materiality Assessment
Identify relevant impacts, risks and opportunities (IROs) up and down your value chain.
Conduct stakeholder engagement, regulatory reviews, peer analysis, sector controversy and targeted research to feed into the materiality assessment.
Assess scope, scale, remediability and likelihood of each IRO to calculate materiality scores and determine which ESRS topical standards will apply.
Data Collection and Gap Analysis
Map the DMA results to the ESRS to determine reporting metrics.
Project manage data collection, task ownership, input tracking and audit trail for evidence and assurance process. Draft written responses to free text ESRSs.
Conduct gap analysis to identify missing information and assist with filling gaps.
Reporting
Produce an XBRL tagged, CSRD compliant report ready for assurance. CSRD content can also be used for general sustainability reporting for marketing purposes.
Timeline
CSRD will take effect in phases, the first of which is already in force for companies already in scope for NFRD. The latest Omnibus proposals have significantly reduced the scope of CSRD to organisations of 1000 employees and above.
2024
Large Undertakings
Companies already in scope for NFRD
Reporting 2025
2025
Large Undertakings cont.
Public and private EU and some non-EU companies with:
1000 employees; and
€25m assets; or
€50m turnover
Reporting 2028
Data collection for Large Undertakings has started. Is your organisation ready?
What is CSRD?
The Corporate Sustainability Reporting Directive (“CSRD”) entered into force on 5th January 2023. This directive updates the rules relating to the environmental and social information that companies are required to report (replacing the EU’s Non-Financial Reporting Directive (“NFRD”)).
The goal is to close the gap between financial and sustainability reporting and data. Companies subject to CSRD are required to report in line with the European Sustainability Reporting Standards (“ESRS”). The ESRS were developed by an independent body bringing together different stakeholders called the European Financial Reporting Advisory Group (“EFRAG”).
EU law will require all companies of 1000 employees and above to disclose information on what they see as the risks and opportunities arising from social and environmental issues, and on the impact of their activities on people and the environment.
This helps investors, civil society organisations, consumers and other stakeholders to evaluate the sustainability performance of companies, as part of the European green deal.
Read more about CSRD including the latest Omnibus update proposals.
Recent Updates
