Introduction to the Corporate Sustainability Reporting Directive (CSRD)

In 2019, following the Paris Agreement, the European Green Deal was launched. Its primary objective is to make Europe a climate-neutral continent by 2050. A part of this Green Deal is the EU Action Plan on Sustainable Finance. This Action Plan encourages sustainable investments by strengthening sustainability information, among other initiatives.

To enhance sustainability information, the Corporate Sustainability Reporting Directive (CSRD) was introduced, along with the corresponding package of European Sustainability Reporting Standards (ESRS).

In CSRD reporting, a company provides insights into its sustainability strategy and policies, their implementation, and how they perform against relevant performance indicators. Sustainability, often referred to as ESG (Environment, Social, and Governance), encompasses a broad spectrum.

Your organization falls under CSRD if it previously fell under the NFRD, is considered a large corporation, or is listed on the stock exchange as part of the SME (Small and Medium-sized Enterprises) sector.

An organization falls under NFRD if it is publicly listed and employs more than 500 full-time employees.

corporation if it meets 2 of these 3 criteria:

Revenue exceeding €50 million

Total assets exceeding €25 million

More than 250 full-time employees

A business falls under the listed SME category if it is publicly listed but does not meet the above requirements.

The CSRD reporting deadline depends on the company’s size: publicly listed companies with more than 500 employees must comply by 2024 (in 2025), large corporations by 2025 (in 2026), and listed SMEs by 2026 (in 2027)

For the first 3 years, companies will be audited with a limited level of assurance. After this period, the level of assurance will be increased to reasonable assurance.

How Cooperate Green Stands Out

Cooperate Green emerged from a collaboration between consultants, financial experts, and auditiors working together on strategic planning, (CSRD) reporting, and its independent verification. This ensures that your organization receives comprehensive guidance from start to finish.

Based on our experience with clients, we have developed a project methodology that leads to a report through various steps that can be submitted for verification by an auditor. This methodology emphasizes knowledge transfer, enabling your colleagues to understand CSRD obligations.

We offer this solution in varying levels of support, ensuring there is an option that fits your business. This allows you to take complete control, initiate the project in collaboration with us, or opt for full outsourcing.

Our Solutions

Self-Guided Approach

Cooperate Green’s consultants collaborate with you to define your CSRD objectives and associated KPIs for reporting. We provide training to your staff, empowering them to independently handle various CSRD aspects. During follow-up training sessions, we further educate your staff so they can independently define, identify, and collect the necessary information to report. Ultimately, this results in the sustainability report for your annual report.

CSRD Workshops and Consultation

Cooperate Green’s consultants work with you to define your CSRD objectives and associated KPIs for reporting. We train your staff, and in collaboration with our consultants, they work on various CSRD aspects. Through in-depth workshops, we assist your staff in defining, identifying, and collecting the necessary information to report. This culminates in the sustainability report for your annual report.

Comprehensive CSRD Process

Cooperate Green’s consultants engage with you to define your CSRD objectives and associated KPIs for reporting. In the subsequent process, our consultants assist you in implementing the entire CSRD process. We identify and gather sustainability information for mandatory reports, assist in setting up reporting methods, and can also provide a complete report in the annual report.

Custom

If there are other needs or preferences beyond these solutions, we are flexible and work with you to create a customized solution tailored to your organization. For all the above scenarios, it’s essential to have the report verified. Cooperate Green can facilitate this through its network. Alternatively, you can use your own external auditor, provided they have qualified personnel to audit sustainability.