Starting January 2024, approximately 50,000 companies were impacted by new European Union legislation. The Corporate Sustainability Reporting Directive (CSRD) will extend the scope of existing EU reporting requirements and introduce the European Sustainability Reporting Standards (ESRS). This new directive emphasizes the need for tight control over greenhouse gas (GHG) emissions reporting and other sustainability factors, requiring finance-grade, auditable data.
The Challenges of CSRD Compliance
Many organizations currently face challenges in managing their GHG data using manual processes or spreadsheet-based data collection. With the CSRD demanding higher standards for sustainability reporting, these traditional methods are no longer sufficient. Companies need to adopt more robust systems to ensure accuracy and compliance with the ESRS.
Why Accurate GHG Emissions Reporting Matters
The CSRD’s stringent requirements mean that organizations must provide precise and verifiable data on their environmental impact. Accurate GHG emissions reporting not only helps in meeting regulatory standards but also enhances transparency and accountability. This becomes critical as stakeholders and investors increasingly prioritize sustainability in their decision-making processes.
How We Can Help
Jeskell Systems is equipped to assist your company in navigating the complexities of the CSRD and ensuring compliance with the ESRS. We offer comprehensive solutions for ESG data management that provide a single source of truth for your sustainability data. This helps in streamlining your reporting processes and preparing your organization for the upcoming regulatory changes.
To further support your journey towards CSRD compliance, IBM has created an insightful eBook titled “A Guide to GHG Emissions Accounting and ESG Data Management.” This guide provides detailed information on managing your ESG data effectively and ensuring accurate GHG emissions reporting.
Read the eBook ➜
+++++
Independent Analyst’s Report on CSRD
To help companies evaluate the challenges of the CSRD and suggest best practices, we commissioned an independent analyst’s report on CSRD compliance. This report offers valuable guidance and practical steps to ensure your organization is ready for the new regulations.
Download the Report ➜
+++++
Preparing for CSRD Compliance
In recent months, our team has engaged in numerous discussions with Chief Sustainability Officers. Many have expressed concerns about gaps in their CSRD readiness, with ESG disclosures set to start as early as 2025 for some companies. If your organization is facing similar challenges, our exclusive guide to the EU’s CSRD, curated by subject-matter experts, can provide the necessary insights and solutions.
Download the Guide ➜
+++++
With the European Union’s Corporate Sustainability Reporting Directive (CSRD) now in effect, how are you tracking your ESG reporting strategy? Establishing a strong ESG data foundation and having a reliable source of truth for your data can simplify reporting and ensure your organization is well-prepared. Start preparing for your CSRD compliance today, and let us help you navigate this complex regulatory landscape.
We look forward to hearing from you and assisting your company in achieving CSRD compliance.