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Corporate Sustainability Reporting Directive

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The EU's Corporate Sustainability Reporting Directive (CSRD) is now in force for wave 1 (EU listed) companies.  The plans for wave 2 companies including the thresholds that will define such companies are subject to consultation through the EU’s Omnibus process.  

We can help you navigate through this uncertainty, providing you with updates on the consultation process, details on what the proposed revisions could mean for you, and what “no regrets” actions you can take now.  

CSRD will transform how companies report on sustainability, requiring companies to go far beyond what they report today.  

It is an opportunity for companies to future-proof their business. It's a chance for you to deepen your understanding of their your material.

 

Deloitte’s step-by-step approach to CSRD

With Deloitte you’ll experience a practical, step-by-step approach to CSRD implementation that leverages all we’ve learned from wave 1 reporters:

  • Companies will need to report on a broad range of material sustainability topics, not just climate.
  • The ‘double materiality’ approach will also mean companies will need to identify their material sustainability impacts, their risks and opportunities, and how these affect their performance, position and development from both a financial and impact perspective.
  • CSRD includes mandatory assurance requirements that are wide-ranging and cover sustainability reporting, digital tagging and EU taxonomy disclosure.

The CSRD directive means that sustainability reporting requirements will be more stringent than ever, meaning early preparation is key as some disclosure requirements will require significant time and resources.

CSRD requires independent assurance over a broad set of sustainability disclosures. CSRD requires assurance over three areas:

  1. European Sustainability Reporting Standards (ESRS) – including both the double materiality process, and metrics and disclosures required by the ESRS.
  2. EU Taxonomy - Non-financial entities must disclose “green” turnover, capex and opex indicators and financial entities need to disclose ratios relevant to their industry.
  3. Digital Tagging– entities must mark up their sustainability reporting, using XBRL, in accordance with a prescribed electronic format.

Our thinking

EU Taxonomy: a practical guide for sustainable reporting

Navigating the EU Taxonomy: Your practical guide to understanding and complying with sustainable reporting requirements. Learn more here.
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The rising tide of sustainability reporting: navigating the new era of corporate transparency

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CSRD – A simple step-by-step guide

Implications and considerations for reporters
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Deloitte’s EMEA Sustainability Regulation Hub answers important questions on the EU’s Corporate Sustainability Due Diligence Directive.
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Get in touch

Stephen Farrell

Stephen Farrell

Head of Controls, Sustainability & Emerging Assurance
+44 (0) 20 7303 7491
Emily Cromwell

Emily Cromwell

Partner, Climate Change and Sustainability
+44 (0)20 7007 0825
James Wright

James Wright

Partner
+44 (0)20 7007 3979
Katherine Lampen

Katherine Lampen

Sustainability Services Lead Partner
+44 (0)20 7303 8380
Matthew Guest

Matthew Guest

+44 (0)20 7007 8073
Anne-Marie Malley

Anne-Marie Malley

Vice Chair and Partner, UK Sustainability Leader
+44 (0)20 7007 8075