CSRD Services
CSRD Services
CSRD is looming and the scope is wide. Across the next 4 years, some 50,000 companies will find themselves in scope for these new reporting requirements, and this doesn’t just apply to listed EU companies. It captures private companies and non-EU companies who generate a certain level of revenue from the EU.
Timeline
CSRD will take effect in phases, the first of which is already in force for companies already in scope for NFRD.
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 2 of 3 of:
250 employees
€25m assets
€50m turnover
Reporting 2026
2026
EU Listed SMEs
EU listed companies with
2 of 3 of:
10 employees
€450,000 assets
€900,000 turnover
Reporting 2027
2028
Non-EU Companies
With EU revenue €150m and 1 of:
Large undertaking EU subsidiary
EU listed SME
EU branch revenue >€40m
Reporting 2029
Large Undertakings need to start collecting data in 0 days. Is your organisation ready?
Our Services
Danesmead ESG can help you with the entire project end-to-end. This will typically include:
Scoping
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
Assessment of financial and impact materiality up and down your value chain to determine which ESRS topical standards will apply to you.
Data Collection and Gap Analysis
Project management of data gathering process. Work with stakeholders to collect the required data based on your DMA. Conduct gap analysis to identify missing information and assist with filling gaps.
Reporting
Produce a CSRD compliant report ready for assurance.
What is CSRD?
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 requires all large companies and all listed companies (except listed micro-enterprises) 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