Sustainability Disclosure & Reporting Advisory Programme
Promoting Transparent Sustainability Reporting According to CSRD and ESRS
In an era where sustainability has transformed from a voluntary to a mandatory matter, the introduction of the Corporate Sustainability Reporting Directive (CSRD) marks a critical milestone.
Due to their direct or indirect reporting obligations, both SMEs and larger organisations are facing the directive’s complexities leading to the dual challenge of understanding new regulatory landscapes and integrating sustainable practices into their business models.
Designed to effectively overcome these challenges, our Sustainability Disclosure & Reporting Advisory Programme supports you in preparing for and meeting reporting obligations with a step-by-step approach that aligns with your organisation’s individual needs and current status quo. Start this journey with us to leverage transparent reporting and sharing of your sustainability data as new business enablers and central aspects of your corporate strategy.
- Readiness: Prepare for foreseeable sustainability reporting obligations where over half of businesses already use ESG and CSRD data requirements to measure your performance
- Compliance: Ensure CSRD and ESRS compliance and protect your organisation from legal and financial consequences.
- Competitive Advantage: Enhance your reputation by demonstrating your company’s ESG commitment to clients and investors.
- Risk management: Gain a deeper understanding of your organisation’s sustainability impact and risks and improve risk management by identifying proactive measures to minimise them
Our Approach
Our Disclosure & Reporting Advisory Programme is designed to comprehensively prepare your organisation for the complexities of sustainability reporting, guiding you towards CSRD and ESRS compliance through a comprehensive approach including:
- CSRD & ESRS Fundamentals Training
Introductory training course on sustainability reporting to understand the scope and requirements of the CSRD and ESRS and enable participants to develop first actionable steps.
- CSRD Reporting Readiness Assessment
Assessment of your organisation’s reporting readiness in terms of KPI tracking and reporting strategy and processes aligned with the high-level CSRD structure.
- Materiality Assessment Training & Advisory
Streamlining of reporting obligations by undertaking a double materiality assessment to identify the most significant sustainability impacts, risks and opportunities for the organisation and its stakeholders.
- EU Taxonomy Training & Advisory
Guidance through the EU taxonomy disclosure process including understanding the framework, identifying relevant economic activities, evaluating eligibility and alignment and disclosing relevant KPIs.
- CSRD & ESRS Practitioner Training
Advanced training course providing detailed and comprehensive insights into new CSRD and ESRS requirements and the individual steps of the reporting process.
- Sustainability Reporting Advisory
Guidance on your sustainability reporting journey from understanding reporting requirements to conducting materiality assessments, data collection, target setting, and developing disclosure content.
Our customised advisory and training program ensures your organisation is CSRD-ready, while also considering interoperability with other standards like the International Sustainability Standards Disclosures (ISSB) and future UK reporting requirements. We also offer guidance on international sustainability reporting standards and frameworks, including GRI, DNK, TCFD, or CDP.
The Corporate Sustainability Reporting Directive (CSRD) is expected to affect almost 50,000 companies. The CSRD applies to all:
- Large companies already subject to the NFRD (public interest entities with more than 500 employees) will need to report in 2025 for fiscal year 2024.
- Large companies not previously subject to the NFRD (meeting at least two of the following three criteria: total assets of ≥ €25 million, a net turnover of ≥ €50 million and/or ≥ 250 employees) will need to report in 2026 for 2025 data.
- Listed SMEs: Small and medium-sized enterprises (SMEs) that are listed on EU regulated markets (except for micro-enterprises) will also be required to report in 2027 for fiscal year 2026, although they will be subject to less extensive reporting requirements compared to larger companies.
- Non-EU Companies: Non-EU companies generating a net turnover of €150 million in the EU and that have at least one subsidiary or branch in the EU with a revenue of €40 million will need to report in 2029 for 2028 data.
UK companies should recognise that all EU market customers they serve may be impacted by these regulations, thereby indirectly affecting them." Suppliers' performance data, including your business, may already be required as part of a customer's tender processes. Therefore, as a UK business, the key question is: Do you wish to maintain access to these European customers? If yes, readiness to align with both EU regulations and UK regional and customer demands is recommended.
Over half of businesses mandate ESG-related data as a prerequisite for continuing to do business. This takes the form of voluntary disclosures, but will become more driven by mandatory regional market legislation like CSRD. Your future customers will start requesting this data today, even if your business is not currently within the scope. They will score your performance and tender work based on these criteria.
Caring about CSRD, even if not mandatory for your organisation, also benefits your business by:
- Enhancing reporting transparency and reducing greenwashing, clarifying your practices to stakeholders
- Boosting credibility, potentially attracting investments and ensuring market comparability
- Standardising climate reporting, integrating it into routine business operations
The Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) are closely linked as integral components of the European Union's strategy to enhance and standardise sustainability reporting among companies.
In essence, the CSRD sets the legal framework and reporting obligations, while the ESRS provide the methodological guidance on how to fulfill these obligations. The ESRS helps operationalise the CSRD by detailing what companies should report on and how, facilitating comparability and understandability of sustainability reports across the EU.
All regional and global bodies have harmonised standards, including CSRD/ESRS, intended to be interoperable. CSRD mandates specific disclosures, while other frameworks offer flexibility for translation into different reports, reducing redundant reporting for businesses. Both UK and global standards continue to evolve, making ready and available data crucial for successful disclosures.
We recommend beginning preparations, including appointing a project lead and team, identifying departmental contacts and coordinating with auditors, two years prior to the first report. Data collection in material impact areas for CSRD reporting should commence one year before the initial report.
For UK businesses, we recommend speaking with your customers and account managers to determine if any of them are undergoing CSRD and ESRS reporting. At that point, you should begin making similar preparations.
Scope 3 emissions reporting, mandated by the Corporate Sustainability Reporting Directive (CSRD), covers indirect emissions across a company's value chain, such as business travel and waste disposal. This requirement aims to enhance transparency and accountability for a company's complete environmental impact, aligning with the GHG Protocol Corporate Standard.
To prepare, companies should conduct a value chain analysis, engage with suppliers for data collection, and implement accurate data management systems. Addressing challenges like data availability and accuracy involves using industry averages for estimations, adopting technology for data handling, and collaborating with industry peers.
Beyond compliance, Scope 3 reporting offers insights into environmental impact, identifies operational efficiencies, and strengthens sustainability credentials. It positions companies as sustainability leaders, attracting eco-conscious investors and customers. As the CSRD implementation progresses, proactive preparation for Scope 3 reporting is essential for companies aiming to excel in corporate responsibility and environmental stewardship.
By effectively utilising the transition period, you can not only use this time to familiarize yourself with the reporting requirements, standards and frameworks in a structured and stress-free manner but also begin with pilot reporting efforts to gain practical experience whilst developing and refining the internal systems and processes needed for efficient data collection, analysis and reporting. The phase-in is also helpful to derive strategic benefits that go beyond mere compliance, enhancing your organisation's sustainability performance and reputation.
We run fundamentals training courses for beginners, offer advanced deep-dive sessions for the experienced and provide hands-on advisory services, including gap analysis and roadmap development, for those already engaged in reporting.
On average, organisations will need one year to complete all six steps of our Sustainability Disclosure and Reporting Advisory Programme. Depending on the maturity level of a company and the start date of the reporting obligation, the exact duration of the programme may vary, underscoring the flexibility of the programme to adapt to the individual needs and current status of each organisation. Our programme features training sessions in (virtual) classroom settings and advisory services available through either virtual or on-site meetings.
Our programme supports CSRD and ESRS compliance by initially raising awareness and imparting crucial knowledge on these standards. Through a materiality assessment, we pinpoint each organisation's key sustainability issues. A subsequent gap analysis evaluates your current standing against CSRD and ESRS requirements, highlighting improvement areas. We conclude with tailored recommendations for actions to bridge these gaps, ensuring organisations not only understand but are able to fulfill CSRD and ESRS requirements effectively through this systematic approach.