CSRD Compliance Simplified

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Compliance with these rigorous reporting standards necessitates meticulous data collection efforts. Delaying implementation could pose substantial risks to your organization's reputation and operational integrity.

Navigating CSRD by yourself can be tedious, time-consuming and expensive, but with ecoPRISM, you can be CSRD-compliant in less than a few weeks!

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What are the new CSRD requirements?

1. Mandatory corporate sustainability reporting

2. Integration of ESG information in annual report

3. External assurance

4. Human-readable and machine-readable report

Scope of CSRD

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“CSRD reporting is essential for enhancing transparency and accountability in companies' ESG performance. However, challenges like standardization, data reliability, and stakeholder engagement persist. At ecoPRISM, we are dedicated to help you navigate these challenges while driving tangible impact.”

Vishakha Goel

Sustainability Head

ecoPRISM is your trusted partner in CSRD Compliance

A comprehensive solution that accelerates your compliance, saves time and effort while helping you make real progress and stay ahead of the curve.

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Did You Know?

Between 2024 and 2028, all companies operating in the EU will be required to comply by the CSRD directive.

The estimated cost of non-compliance can go upwards of €10m in fines.

CSRD has 82 disclosures (qualitative and quantitative) which represents around 1,144 data points.

Important Resources

Explore our resources curated to help you understand and navigate the challenges of CSRD adoption.

Frequently Asked Questions

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As per EFRAG confirmation, the ESRS are aligned as closely as possible with the GRI Standards. This reassures established GRI reporters that they are well-equipped for the ESRS and can utilize their current reporting methods effectively

The disclosure requirements under the CSRD will apply to an estimated 50,000 companies, from January 2024. All large companies governed by the law of or established in an EU member state, and all European stock exchange-listed companies (except micro-companies), as well as SMEs, are within the scope. Companies not in the EU but have securities on EU-regulated markets are also in scope.

From January 2028, the CSRD will also apply to non-EU undertakings that generate a net turnover of over €150,000,000 in the EU and have an EU branch office with a net turnover of at least €40 million in the EU, or a large or listed EU subsidiary. However, these companies will only have to supply impact-related information, for which a special standard will be developed.

The CSRD is significantly more comprehensive in scope than the NFRD. Companies have to report in detail the material sustainability impacts associated with its entire value chain. Companies also must disclose on their policies and targets. The ESRS include twelve standards: two cross-cutting standards, covering General Requirements and General Disclosures; and ten topical standards, as depicted in the diagram above.

Companies need to disclose their sustainability information in their annual reports – as a part of the management section. This means that one report will give an overview of both the financial and sustainability information for the company.

The data needs to also be reported in a standardized digital format, to ensure comparability and alignment in the European single access point database.

The reports are required to be assured as per limited assurance requirements.

Filers must conduct a “double materiality” assessment, considering both their impact on society and the environment and how external sustainability factors affect their organization. Double materiality is the union (in mathematical terms, i.e. union of two sets, not intersection) of impact materiality and financial materiality. A sustainability topic or information meets therefore the criteria of double materiality if it is material from the impact perspective or from the financial perspective or from both perspectives.

This assessment involves stakeholders evaluating risks and opportunities across CSRD topics, using qualitative and quantitative measures. The outcomes determine which CSRD components companies must report, ensuring alignment with issues significant to both the organization and society.

The CSRD came into force on 5th January 2023. The EU member states, and the European Economic Area countries have until 6th July 2024 to transpose the CSRD into their national laws.

It has replaced the NFRD with a focus on enhancing transparency and accountability in sustainability reporting in Europe, with companies expected to provide comprehensive information on their environmental and non-financial practices by 2024-2028.