CSRD

A short introduction to CSRD

The EU's Corporate Sustainability Reporting Directive (CSRD) will impact some 50,000 corporations, not just within the European Union (EU) but also those with significant operations within the EU, wherever they’re based. The directive requires detailed information on how sustainability issues affect a company's operations and its societal and environmental footprints. CSRD goes beyond reporting targets and data. It encompasses various business risks and opportunities, including regulatory and reputational risks, supply security, and innovation. It is important to integrate these risks and opportunities into the business and communicate them effectively to achieve your goals.

ESG data to be treated with the same thoroughness as financial data

Below are a short list of the key requirements in CSRD reporting;

• The sustainability report should be part of the management report, which means that it needs to be aligned with the annual financial reporting cycle.
• The European Sustainability Reporting Standards (ESRS) should be used.
• The ESRS include a requirement to report in line with the information in the EU taxonomy.
• All companies need to conduct a double materiality analysis to assess financial and impact materiality
• The report needs to be externally assured (limited assurance, minimal auditing requirements at start)
• The report should be digitally tagged using XHTML format
• The Board of Directors is responsible for the published information to the same scrutiny as the financial information.
• The first companies will have to apply the new rules for the first time in the financial year 2024, for reports published in 2025.

CSRD & CtrlPrint

CtrlPrint ensures compliance in today’s and tomorrow’s complex regulatory landscape, without compromising the ability to tell a compelling story. As corporate reporting becomes more complex, involving a larger pool of experts and requiring multi-user and functional collaboration, CtrlPrint supports seamless content creation in a secure platform.