Supporting Spuerkeess in preparing its first Corporate Sustainability Reporting Directive report

The Corporate Sustainability Reporting Directive (CSRD) requires entities already subject to the Non-Financial Reporting Directive (NFRD)—including large, listed companies and public-interest entities with over 500 employees—to begin reporting in accordance with the European Sustainability Reporting Standards (ESRS) in 2025 for their financial year 2024. Under the ESRS, companies must disclose comprehensive sustainability information, including their environmental, social, and governance (ESG) impacts, risks, opportunities, and related policies, actions, targets, and performance metrics.  This requirement applies strictly to companies headquartered in countries that have formally transposed the CSRD into their national legislation. Luxembourg, however, has not yet fully implemented the directive into its domestic law.

Even without a formal national mandate, Spuerkeess proactively chose to prepare its sustainability report in alignment with the CSRD framework. By doing so, Spuerkeess sought to transparently communicate its sustainability strategy and provide a comprehensive account of its positive and negative impacts, associated risks and opportunities, and achievements throughout 2024. This initiative highlights Spuerkeess’s proactive role in advancing ESG disclosure in Luxembourg.

To ensure the report’s quality and relevance, Spuerkeess collaborated closely with Deloitte Luxembourg to identify key topics of importance to both the bank and its stakeholders. A thorough materiality assessment was carried out to evaluate the impacts, risks, and opportunities associated with Spuerkeess’s operations and its broader value chain. Building on these insights, Spuerkeess and Deloitte collected the necessary data and developed a detailed, accurate and informative report designed to improve transparency and meet stakeholder expectations.

By voluntarily preparing and publishing its sustainability report in 2025, Spuerkeess has made a significant contribution to the Luxembourg market. The comprehensive environmental, social, and governance information disclosed, reinforces the company’s commitment to transparency and sustainability. It also establishes Spuerkeess as a market leader in sustainability reporting and sets a benchmark for future disclosures in the region.