Charlotte Drain’s Post

For financial years beginning from 1 January 2028, non-EU companies that generate €150 million per year in the EU, and nonEU companies with large or listed subsidiaries located in the EU, or an EU branch with more than €40 million net turnover, will have to report in accordance with the CSRD at the parent level, with its first sustainability statement published in 2029. This would require disclosure of consolidated information at the non-EU ultimate parent level. This requirement will bring the entire non-EU parent and its worldwide operations within the scope of the CSRD. As such, this will have significant implications for non-EU companies with significant operations in the EU to provide the necessary information covering its entire operations both within and outside the EU

The European Union’s Corporate Sustainability Reporting Directive (#CSRD) epitomizes the transformation of corporate sustainability reporting to #mandatory, #standardized, #audited, and #digitized disclosures. With it, the scale and scope of transformation in corporate sustainability reporting practices is reaching unprecedented levels. More than 45,000 companies, including many non-European companies that do business in the EU, will be affected. I would add that competitive forces will pull into the orbit of the CSRD those companies whose peers are subject to the regulations, even when they themselves are not. There is much work to be done, requiring a paradigmatic shift in how companies manage and report their sustainability-related issues.  It will be hard. It will take time. And it’s a continuous improvement process. This paper provides some practical guidance on how to do it right. Why does it matter? By understanding and embracing the spirit of this law, companies can shift their perception of the CSRD as a compliance chore to that of a catalyst for truly embedding sustainability into their business model.   I’m very grateful for the opportunity to publish this paper with Sustain It Right and Novisto, and a special thanks to Marc Escande for writing it with me.  https://lnkd.in/dxdZz3kM #sustainablefinance #sustainabilityreporting #esgreporting #esg #esgdata #doublemateriality #impact

Unlock Global Sustainability Standards with Us! 📈 In a recent poll conducted by CSIA, we posed a straightforward question: "Is your organization ready to implement the ISSB standards?" The responses were interesting as an almost equal proportion of respondents (54%) were ready while 46% were uncertain or unprepared. Delving a little deeper in a separate survey, we found that 73% of respondents in this survey were not using any of the existing reporting frameworks and while 60% were considering the adoption of the ISSB standards, 46% did not have any of the principles of integrated thinking, which is incorporated in the ISSB standards, in place. The poll and survey results highlight the need for Corporate Secretaries and governance professionals to engage with sustainability reporting to enhance their knowledge and drive sustainability in their organisations. To this end, CSIA and Convene will be hosting a workshop facilitated by the ISSB team where they will provide an overview of recent strategic developments, insights into S1 & S2 standards and an understanding of the current adoption process in different jurisdictions. https://lnkd.in/dNZFASzD Join us on November 2, 2023, from 9:00 - 10:30 am SAST | 7:00 - 8:30 am UTC, to gain practical strategies for implementing ISSB standards and using ESG reporting to position your organization for success in this ever-evolving landscape. Don't miss this opportunity to stay ahead in the world of sustainability reporting. Register now! https://lnkd.in/d5czj6ri For more information on the poll results and the ISSB's role in shaping sustainability reporting worldwide, read our latest blog. https://lnkd.in/dNZFASzD Together, we can make a positive impact on global sustainability reporting. Join us on this exciting journey towards better governance and transparency. 🌍💼 #Sustainability #Governance #ISSB #Workshop #ESG #CSIA

Great work from Deloitte APAC! Though the commission delayed the adoption of the rules for non-EU companies by 2 years, there's still a lot of things to work on. For the assurance requirements, the commission has proposed a limited to reasonable pathway, which was a high standard for the companies that have not yet received assurance on their ESG reports, especially in the APAC region. Companies are highly recommend to begin preparing the rules adoption and improving the quality and internal control for the ESG data.

I am pleased to announce that I have completed the CSRD Fundamentals course offered by the CSRD Institute. I would like to thank the CSRD Institute for providing such a wonderful and insightful program. I highly recommend this course to everyone. Here are some key points I learned from the course: The Corporate Sustainability Reporting Directive (CSRD) is a significant change for companies operating in the EU region. Companies must comply with CSRD standards starting in January 2024. The CSRD applies to various types of companies, particularly: •NFRD companies • Large companies • Listed SMEs •Certain non-EU companies • The CSRD aims to enhance and standardize sustainability reporting, ensuring that companies provide reliable and comparable information on their environmental, social, and governance (ESG) impacts. • Companies will be required to report on a broader range of sustainability topics, including climate change, biodiversity, human rights, and social matters. • The CSRD introduces more detailed reporting requirements and mandatory audits to increase the transparency and accountability of corporate sustainability efforts. • Small and medium-sized enterprises (SMEs) listed on regulated markets will have a transition period to comply with the new requirements, providing them with the necessary time to adapt. • The directive encourages companies to integrate sustainability into their business strategies and decision-making processes, promoting long-term sustainable growth. • It also aligns with the European Green Deal, which aims to make Europe climate-neutral by 2050. Companies in these categories must adhere to the CSRD standards to improve sustainability practices and transparency across the EU. Compliance with the CSRD will not only enhance corporate accountability but also build trust with stakeholders, investors, and the public. #CSRD #Sustainablity #ESG

How can companies prepare themselves to provide assurance on their #sustainability information?🌿 Today, many organisations disclose their 🌱sustainability information without any form of assurance to their stakeholders. However, with the implementation of the Corporate Sustainability Reporting Directive (CSRD), assurance will become mandatory for large companies. They will then need to be well prepared to avoid any unexpected surprises during the assurance process. 👉Would you like to find out more? This workshop is the last one to be organized this year in the continuity of the Awards for Best Belgian Sustainability Reports.🌱 It will explore both current practices and future requirements concerning the assurance of ESG information, as well as providing guidance on the best way to demonstrate the accuracy and completeness of sustainability information. 🌿 To facilitate this workshop, we will have Sofian Milad, Partner at Deloitte, and Ophélie Franco, Senior at Deloitte. Florens Slob, Group Sustainability & Innovation Director at Greenyard, is our guest speaker this time. Finally, we'd like to take a moment to thank everyone who is helping to make this last workshop a success, as well as everyone who did it for all the other workshops this year. 🤝 So, to find out more information, please visit the website here https://lnkd.in/e6rkHixB and register to this last workshop or discover the replays of the past ones! #sustainability #CSRD #sustainabilityinformation  

Untangling the disclosure and assurance requirements for non-financial information present new challenges for companies. In this article, Deloitte Ireland Sustainability team draw on market insights to outline key CSRD readiness actions leaders should tackle over the coming months. Take a read…

I’ve completed the CSRD certification from the CSRD Institute! 📊 This certification has provided me with a deep understanding of the Corporate Sustainability Reporting Directive (CSRD). In today's business world, sustainability isn’t just a checkbox—it’s a competitive advantage. This directive guides companies in sustainability reporting, double materiality, and stakeholder engagement, helping them to: 🔹 Enhance sustainability practices 🔹 Improve stakeholder relationships 🔹 Attract investments 🔹 Capitalize on new opportunities By understanding the CSRD, companies can drive positive change and support sustainable development. 🌍✨🌱 #Sustainability #CSRD #CorporateGovernance #SustainableDevelopment #Transparency #ESG #Compliance #Workiva

Learn about CSRD from the experts!

Take a read of this brilliant article on CSRD (Corporate Sustainability Reporting Directive) written by Aisling Kirby, ACA