A straightforward overview of the CSRD without jargon
Just like you, we have no idea why nearly every description of the Corporate Sustainability Reporting Directive (CSRD) insists on confusing explanations 🤯
But unlike other writers, we're giving you the simple overview of the new CSRD legislation 😎
What’s the deal?
Simply put, the CSRD forces companies to be transparent with its social and environmental impact. The idea is that if investors know more about how sustainably companies act, they will channel money to the more sustainable companies.
On top of that, the CSRD forces companies to report their action plans and progress to become more sustainable! Yes, we’re using an exclamation mark, because this is radical development in the world of sustainability reporting.
Until now, it’s been hard for investors, lenders, and journalists to understand what impact a particular company has on its workforce, its local environment, the climate, and more. Companies have largely had freedom to share just what they want to share, and to cherry-pick the most positive facts.
Okay, but what about all the complicated words?
The EU tackles this problem in enormous documents filled with technical language. After all, that’s how law is, even though it’s a hassle for us non-lawyers!
The trick is to learn the main vocabulary of the CSRD legislation upfront. That makes it much easier to understand both EU’s own documents, and anything else you find online about the CSRD.
If you get familiar with these words, you’re doing great!
So what specifically do I have to do?
Well, now that you’re familiar with the terms above 👆, we can distill the CSRD reporting process into three phases:
- Do a double materiality assessment in a way which involves stakeholders
- Define policies, targets, and actions for topics identified in your materiality assessment
- Track how you’re progressing towards the targets you set
Each of these phases can again be split into concrete actions. After helping customers through the CSRD reporting process, we’ve proven that this can be straightforward.
If you want to replicate our process, check out our 20-step process and many more insights in our Ultimate Guide to the CSRD!
👇 Get it below 👇
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