CSRD, which stands for Corporate Sustainability Reporting Directive, is a regulatory framework
established by the European Union (EU)
CSRD (Corporate Sustainability Reporting Directive) compliance requires companies falling within its scope to disclose relevant non-financial information and sustainability metrics in their annual reports. The directive expands the scope of reporting to include more entities, including large and listed companies, as well as certain other organizations such as banks, insurance companies, and entities listed on regulated markets. To be CSRD compliant, companies need to follow specific guidelines and requirements set out by the directive.
CSRD compliance requires companies falling within its scope to disclose relevant non-financial
information and sustainability metrics in their annual reports. The directive expands the scope of
reporting to include more entities, including large and listed companies, as well as certain other
organizations such as banks, insurance companies, and entities listed on regulated markets.
To be compliant, companies need to follow specific guidelines and requirements set out by
the directive. Some key elements of CSRD compliance include:
CSRD expands the scope of reporting to cover a broader range of sustainability topics,
including climate change, biodiversity, and human rights, among others.
Companies will be required to use recognized reporting frameworks, such as the
Global Reporting Initiative (GRI) Standards or the Sustainability Accounting Standards
Board (SASB), to structure their non-financial disclosures.
It is introducing mandatory independent assurance for sustainability information.
Companies will need to obtain external verification of their sustainability reports from
accredited assurance providers.
The directive promotes the use of digital technologies for reporting. Companies will be
required to use the European Single Electronic Format (ESEF) to facilitate accessibility,
comparability, and analysis of the disclosed information.
CSRD and Decarbonizing supply chains
The connection between CSRD and decarbonizing supply chains lies in the emphasis on climate-
related reporting and sustainable practices. CSRD requires companies to disclose information
about their greenhouse gas emissions, energy consumption, and measures taken to mitigate
climate risks. By increasing transparency and standardization of reporting, CSRD aims to drive
sustainable practices, including the decarbonization of supply chains.
Companies will need to assess and report on the environmental impact of their supply chains,
including the carbon footprint associated with the production, transportation, and disposal of
goods and services. This information can help identify areas where emissions can be reduced,
energy efficiency can be improved, and sustainable alternatives can be adopted.
By integrating CSRD compliance and decarbonization efforts, companies can enhance their
sustainability performance, reduce environmental impacts, and align with the global goals of
mitigating climate change and transitioning to a low-carbon economy.
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