Aspects

EU CSRD 🔗

• Expanded Scope
• Double Materiality
• Digitalization and Accessibility
• Alignment with Standards
• Mandatory Assurance

Expanded Scope 🔗

The CSRD expands sustainability reporting requirements beyond the NFRD (Non-Financial Reporting Directive), including all large companies and those listed on regulated markets within the EU, significantly increasing the number of businesses required to provide detailed sustainability information.

Double Materiality 🔗

The double materiality perspective requires companies to disclose how sustainability issues impact their financial status and how their operations affect society and the environment.

Digitalization and Accessibility 🔗

The CSRD mandates digital sustainability reporting for better accessibility and analysis, aligning with the ESAP (European Single Access Point) initiative for a centralized digital platform for all company data, including sustainability insights.

Alignment with Standards 🔗

The directive requires adherence to detailed sustainability reporting standards developed by EFRAG (European Financial Reporting Advisory Group) to guarantee the comparability, relevance, and consistency of disclosed sustainability information.

Mandatory Assurance 🔗

For the first time, reported sustainability information must be verified through an assurance process to improve its reliability. The process starts with limited assurance and potentially advances to reasonable assurance later.