CSRD: BV HELPS
PREPARE FOR IT
Jul. 27 2022
The EU’s new Corporate Sustainability Reporting Directive (CSRD) is a game changer for sustainability reporting. It is currently under consultation until 8th of August and implemented into national law by the end of the year. It sets new environmental, social and governance (ESG) reporting standards and obligations for companies operating in Europe, using the same methodologies, units and digital database.
It focuses not only on the disclosure of performance, but future strategy and scenario modelling for effective ESG risk management. It changes the way companies must disclose and report information on ESG data. It will replace the Non-Financial Reporting Directive (NFRD).
Even though CSRD will not apply until 1st of January 2024, it will include ESG data for the 2023 calendar year, which means it is vital to act now in order to ensure compliance. All large and medium companies with more than 250 employees and a net revenue of 40M € will be publicly accountable for their impact on people & environment. ESG data quality, consistency and credibility will be improved allowing capital flow into sustainable projects.
Businesses must begin the process now and gain a true understanding of the new reporting requirements. With dedicated and specialist team of sustainability experts with detailed understanding of wide range of topics incorporated into new requirements such as climate change, pollution, marina and water systems, biodiversity and nature and diversity and inclusion that operate across the globe, at Bureau Veritas we can provide unique understanding and clarification for businesses needing review their operational activities against the CSRD.
If you wish to understand better or obtain more information on this matter, we invite you to watch the replay of our webinar prepared by Bureau Veritas’ sustainability experts.