Prepare for CSRD reporting

CSRD reporting requires 50,000 companies to disclose their ESG management. Find out what data is required and how you can prepare for it now.

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What is CSRD reporting?

The Corporate Sustainability Reporting Directive (CSRD) is an EU directive that defines the sustainability report becomes mandatory. It will apply from January 1, 2024. CSRD reporting extends the previous Non-Financial Reporting Directive (NFRD) and introduces the European Sustainability Reporting Standards (ESRS).

Who is affected by CSRD reporting?

Around 15,000 companies in Germany and around 50,000 companies in Europe are affected by CSRD reporting:

For companies that are listed on an EU-regulated market and fulfill two of the three criteria, sustainability reporting becomes mandatory with the CSRD:

total assets of over 25 million euros,
Net sales over 50 million euros,
or more than 250 employees.

Companies not based in the EU are subject to CSRD reporting if they have subsidiaries that are listed SMEs or large companies or generate more than EUR 150 million in net sales on a consolidated basis.

Third-country companies with branches in the EU are subject to CSRD reporting if they exceed certain turnover and revenue thresholds.

Micro-enterprises are exempt from CSRD reporting.

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Timeline of CSRD reporting

Timeline CSRD reporting

What innovations does CSRD reporting entail?

CSRD application area

The CSRD extends the reporting obligation to all large companies and listed small and medium-sized enterprises (SMEs).

Double materiality

Companies must report the impact of their activities on the environment and society as well as the financial impact of ESG factors on the company.

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External audit

Sustainability reports must be verified by external auditors and provided in a machine-readable format (XHTML).

Comparability

The introduction of the European Sustainability Reporting Standards (ESRS) ensures that CSRD reporting is standardized and comparable.

Free e-book: What you need to know to prepare your CSRD report

What are the contents of CSRD reporting?

CSRD reporting requires companies to disclose environmental, social and governance data in accordance with the ESRS standards.

Table ESRS standards for CSRD reporting

Four steps to CSRD reporting

Double materiality

Materiality analysis identifies relevant sustainability topics.

CO2 footprint

emissions data (Scope 1-3) and set up a reduction pathway.

ESRS data points

Collection, management and analysis of all relevant ESG data.

CSRD report

CSRD report and have it reviewed by external third parties.

Contact

Planted supports your company with CSRD reporting

Planted offers a unique combination of internal expert support, external audit by auditors and a software solution that supports all CSRD challenges.

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FAQ on CSRD reporting

Who has to report under the CSRD Directive?

The Corporate Sustainability Reporting Directive (CSRD) makes sustainability reporting mandatory. All companies that are listed on an EU-regulated market and meet at least two of the following three criteria are affected by CSRD reporting:

- a balance sheet total of more than 25 million euros,
- net sales of more than 50 million euros,
- or more than 250 employees.

In addition, companies not based in the EU are subject to the CSRD obligation if they have subsidiaries in the EU that are either listed SMEs or large companies, or if they themselves generate more than 150 million euros in net sales on a consolidated basis. Third-country companies with branches in the EU are also required to report if they exceed certain turnover and revenue thresholds. In total, this affects around 15,000 companies in Germany and around 50,000 companies throughout the EU.

Micro-enterprises and non-capital-market-oriented companies are exempt.

What disclosures does CSRD reporting require?

CSRD reporting requires comprehensive disclosures in the environmental, social, governance and economic areas. Companies must provide information onCO2 emissions, water and resource consumption, working conditions, diversity, human rights and social commitment. Details on corporate governance, remuneration, risk management and dual materiality are also required. The reports must use standardized frameworks and be transparent, precise and comparable.

What is the double materiality analysis?

The dual materiality analysis evaluates both how sustainability issues affect the company (outside-in perspective) and how the company affects the environment and society (inside-out perspective). This analysis helps to identify the most important sustainability issues that are relevant to the company and its stakeholders. It combines financial and non-financial aspects to provide a comprehensive view of risks and opportunities. This is crucial for effective and transparent CSRD reporting.

Who audits the sustainability report?

As part of CSRD reporting, the sustainability report must be reviewed by an independent external auditor, such as an auditing company or a specialized consulting firm. This audit ensures that the reports comply with legal requirements and that the information is accurate and reliable. The external auditor assesses the completeness, accuracy and transparency of the disclosed data. This increases the credibility and comparability of sustainability reporting.

What is a CSR report?

A CSR report (Corporate Social Responsibility report) is a document that presents the social, environmental and economic activities and performance of a company. It includes information on sustainability initiatives,CO2 emissions, energy consumption, social projects and ethical business practices. The report aims to create transparency and inform stakeholders about the company's responsibility and contributions to sustainable development. CSRD reporting ensures that these reports are comprehensive and standardized.