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PUBLISHED 2 DECEMBER 2023

Getting to grips with CSRD - Six Key Takeaways

This week we were joined by ESG expert Patrick Downes for an essential half-day programme on preparing for the incoming mandatory CSRD reporting, which will affect many companies from the beginning of 2024.

For companies not currently focussing on CSR reporting, the path ahead might appear fraught with difficulties, but there are steps that can be taken now to mitigate those difficulties and get processes in place that will be transparent, efficient and effective.

Six Key Takeaways

1. Know your deadlines: learn from others and observe other EU companies with earlier deadlines than yours.

2. Evaluate your current reporting system: assess and review your existing reporting efforts - identify gaps, priorities and KPIs.

3. Apply double materiality standards: establish clear roles and responsibilities for data collection to show how your business impacts and is impacted by ESG factors.

4. Map out your risks: document ESG risks and opportunities so you can prioritise and plan effectively.

5. Establish a reliable mapping system: understanding the ESG landscape for your business - grasp the societal impact and business value.

6. Establish an auditable reporting framework: engage with auditors to create transparency, clarity and accuracy in your calculations and reports.

Audit reports worth reading

A number of companies have been creating impact reports for a considerable time and these reports are often available on their websites. Some notable reports worth reading are:

The World Wildlife Foundation, 
Glanbia, 
CRH

Lots done, more to do

If you organisation is starting or building on its CSRD journey, and you want to find out how we can bring expert support to your plans, don't hesitate to contact us directly at [email protected]