Who has to draw up a sustainability report today and how is the legislation changing?
The Non-Financial Reporting tool, to date, is a regulatory obligation for around 11,000 European companies. The new CSRD directive (Corporate Sustainability Reporting Directive) changes its and extends the obligation for many companies.
Among these could be yours.
Among the significant innovations introduced by the CSRD Directive (Corporate Sustainability Reporting Directive) we point out:
The replacement of the term “non-financial” with “sustainability information”, as the former implies that the information in question is not financially relevant at all, but it may be;The introduction of more detailed reporting obligations which include information necessary to understand the impact of the company’s activities on environmental, social, personnel-related, respect for human rights and the fight against corruption aspects, with prospective and retrospective views . The perspective of “double relevance” or “due diligence” is important: not only the impact of the company’s activities on people and the environment is relevant, but also the way in which sustainability issues affect the company;
The introduction of the obligation to certify the compliance of sustainability reporting with the provisions of the Union by a statutory auditor, an audit firm or an accredited independent provider of attestation of conformity services. Previously, the statutory auditor or audit firm only certified that firms that fell within the scope of the NFRD had filed a non-financial statement (NFD).
Our services to support your company in drafting the sustainability report include: