The Corporate Sustainability Reporting Directive (CSRD) is a new regulation in the European Union. Its aim is to make companies clearer about how they impact the environment, society, and how they are governed. It is part of the European Green Deal and aims not only to make companies more open but also to improve their sustainability reports.
The implementation of CSRD has significant consequences for project management and general business operations. It ensures that sustainability becomes an integral part of strategic decisions and daily processes. This means a new way of working, where sustainability has a clear place in the planning, execution, and evaluation of projects. It also requires new skills for measuring and reporting sustainability impact and the use of information systems for analyzing data.
Approach to sustainability reporting
Companies are encouraged to take a detailed approach to sustainability reporting, starting with a double materiality assessment to evaluate both the financial impact of sustainability issues and the company’s influence on the environment and society. Subsequently, they must formulate specific sustainability goals and Key Performance Indicators (KPIs), leading to the implementation of strategies and practices to achieve these goals. A continuous process of monitoring, reporting, and evaluation ensures that companies not only comply with CSRD requirements but also continuously improve their sustainability performance, taking into account both their business interests and broader societal and environmental responsibilities.
MareVisie’s role in implementation
A structured project-based approach is essential for the effective implementation of these requirements, where we set specific goals and systematically monitor progress. We support this approach and take proactive steps to integrate CSRD principles, deepen our expertise in sustainable project management, and help organizations implement technologies for effective information management.
To this end, we have internally started a project to prepare our own CSRD report. This directive brings broader requirements than our current sustainability reports and thus provides a more complete picture of our steps. By carrying out this internal project, we deepen our knowledge of the process and associated requirements, enabling us to apply this expertise in our projects and services.
Within our everyday projects, CSRD will play a role. For example, if we are working on implementing a new IT system for a client in the financial sector, aimed at improving customer service and operational efficiency. The primary objectives of this project are technological innovation and optimization of business processes. However, with CSRD in mind, it becomes necessary to also consider sustainability aspects.
Practical applications
MareVisie plays a role in supporting organizations in the implementation of CSRD through a structured, project-based approach. This approach includes the initial assessment of current sustainability reports, followed by the development of a detailed project plan with specific goals and timelines. We assist in implementing improved processes for data collection and analysis, training staff to increase awareness and understanding of CSRD, and setting up monitoring systems to track progress. Regular evaluations ensure continuous improvement and adaptation to CSRD requirements.
The introduction of the Corporate Sustainability Reporting Directive (CSRD) marks an important step forward in promoting transparency and sustainability within EU companies. We are moving forward with this transition and are very eager to embrace the guidelines within the organization.