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Corporate Sustainability Reporting Directive (CSRD)

Navigate CSRD mandates effortlessly with our expert guidance towards a sustainable future.

A field which is being utilised within CSRD

What is the CSRD?

The Corporate Sustainability Reporting Directive (CSRD) is an EU legislation that was implemented on 5th January 2023, succeeding the existing Non-Financial Reporting Directive (NFRD). It requires qualifying organisations to publish detailed reports on their environmental, social and governance activities. The CSRD is set to standardise non-financial data reporting and increase transparency in the field of sustainability. It is anticipated to affect around 50,000 organisations, from reporting years beginning 1st January 2024. CSRD will allow external policymakers, investors, and consumers to evaluate an organisation based on their non-financial performance, allowing informed decision-making with sustainability and social impact as a key consideration. At McGrady Clarke, our specialist sustainability consultants can support your organisation in producing comprehensive, high-quality CSRD disclosures, aligning your corporate actions with global best practices and stakeholder expectations.

A car going across a nice road within CRSD

What is Required under CSRD?

EU-based companies or subsidiaries that fulfil at least two of the following three conditions will have to comply with CSRD from reporting years beginning January 2024:

  • 250 or more employees
  • €20 million or more total assets
  • €40 million or more revenue

A range of ESG topics are covered under CSRD reporting, including climate change, biodiversity, circular economy and resource use, governance and risk, social responsibility and human rights. This new directive builds upon the previous criteria required by the NFRD, while introducing the disclosure of “double materiality” – how sustainability issues may impact the reporting company, and how their operations affect society and the environment.

A building which is currently having a CSRD report carried out

Benefits of Conducting CSRD Disclosure

The assessment of disclosures under CSRD drives organisations towards a sustainable and ethical approach, showcasing an unwavering commitment to transparent, accountable operations. Complying organisations can obtain significant benefits through enhanced ESG performance, fostering a commendable level of trust among both stakeholders and consumers.

The directive encourages a culture of standardised sustainability reporting, ensuring consistency and comparability across industries. By disclosing key sustainability data, organisations can optimise their risk management processes whilst future-proofing the business, gaining a competitive edge against peers. Not only does CSRD compliance enhance credibility; it eases the transition towards a sustainable economy, aligning with the green ethos of the evolving business landscape in the face of climate issues.

CSRD outputs with solar panels being installed

Why Choose McGrady Clarke for your CSRD Reporting?

At McGrady Clarke, our ESG experts can provide professional advice and ongoing support whilst navigating your organisation through the complex CSRD framework, from initial consultation through to final report writing. We take a bespoke approach for each client, ensuring the highest quality outcome for the annual report.

Our team will work closely with your organisation to provide a tailored CSRD experience that fits your short- and long-term sustainability goals, whilst strengthening your sustainable business practices.

A road signifying the journey through CSRD compliance

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A field which is being utilised within CSRD
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