What is CSRD and why is Traace the best solution?
CSRD in a nutshell
The CSRD, or "Corporate Sustainability Reporting Directive", is a new European directive which aims to require companies of a certain size to provide annual non-financial reporting .
The main aim of the CSRD is to promote transparency and make public comprehensive and reliable information on the environmental and social impact of companies . It will also harmonize corporate sustainability reporting and the quality of ESG data.
When will your company be affected by the CSRD?
Deployment of this new obligation will be phased in over the period up to 2027, depending on company size.
Companies already subject to the NFRD will have to be ready to collect reporting data by January 2024, while SMEs will have an extra year to prepare in order to avoid possible penalties.
CSRD provisional schedule
What data will you need to master for CSRD?
The CSRD will require companies to collect and publish precise data on their sustainability activities on an annual basis . CSRD reporting will cover three main areas: environmental impact, social impact and governance policy.
General terms and conditions
Water and marine resources
Biodiversity and ecosystems
Resources and the circular economy
The environmental component of the CSRD will be the most demanding
The section on climate change is likely to be the most difficult for companies to answer.
This is because, unlike other purely declarative data (e.g. social data), the climate change section will require the processing of raw impact data, as for the calculation of GHG emissions or the modeling of carbon reduction targets and action plans.
Companies will need to be able to provide a set of quantified indicators on their greenhouse gas emissions and their strategy for combating and adapting to climate change.
Climatic data expected by CSRD
Traace facilitates high-quality non-financial reporting
The Traace platform is designed to act as a hub for your climate data and make it usable:
Annual data collection made easy thanks to multi-source and multi-format ingestion.
Dedicated module for planning and pacing the progress of your data collection with your stakeholders.
Advanced analysis ofyour environmentalimpact data: carbon footprint, pollution, water, resources, biodiversity, etc.
Comprehensive export module : export your data in bulk or by organizational perimeter, and in the regulatory formats of your choice.
Model the impact of your climate action plan and plan its financing to fully comply with the CSRD.
Find out more about Traace and CSRD