This is a world where stability is no longer an option but a need, and in the European Union and beyond, businesses are under pressure to open up more about their environmental and social contributions. The driver of the change is mainly corporate sustainability reporting instructions (CSRD)—a new benchmark for reporting on environment, social, and government (ESG) activities that tries to change the way businesses communicate about it.
With more requirements, a broad scope, and a focus on transparency, CSRD is recreating sustainability reporting. However, for most companies, meeting these requirements is technically as well as strategically important. This is the place where steps are green—providing strong equipment to enable firms to successfully adhere to CSRD requirements with ease, accuracy, and certainty.
What is CSRD?
The Corporate Sustainability Reporting Directive (CSRD) is a piece of European Union law that replaces non-financial reporting instructions (NFRD). It has a far wider scope of reporting and covers many more companies.
Some main points of CSRD include:
- It requires uniform sustainability reporting for EU companies.
- Impacts approximately 50,000 firms, such as large EU companies as well as non-EU firms with EU operations.
- Demands audited, detailed reporting on sustainability performance metrics, ESG performance, and climate-related risks.
- Incorporates alignment with ESRS (European Sustainability Reporting Standards).
- Implemented in a phased approach from 2024, subject to company size and organization.
Why CSRD Is Important for Your Business
CSRD compliance is no longer only about ticking a legal box. It has a direct impact on:
- Investor trust
- Brand image
- Regulatory reputation
- Global competitiveness
- Green financing access
Companies that excel in ESG performance and transparency will be best able to attract investors, customers, and employees—while minimizing environmental risk. However, becoming CSRD compliant is not a walk in the park. It requires in-depth knowledge of sustainability subjects, data gathering, documentation, and conforming to specific report templates.
Greenly: Your Smart Partner for CSRD Reporting
Greenly provides a progressive and intuitive platform that makes your path to sustainability easy. Known worldwide for its smart automation and carbon footprint tracking expertise, Greenly now has your CSRD compliance needs covered.
Key Features of Greenly’s CSRD Solution:
1. Automated ESG Data Collection
Integrates with your internal systems to bring in relevant emissions and sustainability data automatically.
2. Real-time Carbon Footprint Analysis
Tracks Scope 1, 2, and 3 emissions and assists you in lowering your environmental impact over time.
3. ESRS Line Reporting
Produces reports that are entirely compliant with the European Sustainability Reporting Standards (ESRS) within CSRD.
4. Materiality Assessment Tools
Assists in identifying what ESG issues are most material to your industry and stakeholders.
5. Audit-Ready Reports
Guarantees your sustainability disclosures are audit and regulatory ready.
6. Guided Compliance Roadmaps
Provides clear, step-by-step guidance to enable you to grasp and execute reporting requirements with minimal resistance.
Who Must Report Under CSRD?
CSRD is applicable to
EU-headquartered companies with 250+ employees or ≥€40 million turnover.
Small and medium-sized listed enterprises (SMEs), with reduced standards.
Non-EU firms with ≥€150 million revenues within the EU and at least one subsidiary/branch.
Even if your business isn’t impacted today, you might need to get ready sooner or later—particularly if you’re involved in a supply chain with EU-based partners.
Greenly’s Wider Sustainability Impact
As well as CSRD reporting, Greenly is recognized for:
- Life Cycle Assessments (LCAs)
- Engagement of suppliers with Scope 3 emissions
- Tailor-made ESG action plans
- Employee engagement solutions
- B-Corp and Net-Zero support
This holistic strategy helps businesses integrate a culture of sustainability more easily, instead of viewing it as one project.
CSRD Implementation Timeline: Are You Ready?
Here’s when CSRD becomes effective:
2024: Big companies already covered under NFRD
2025: Big companies not yet subject to NFRD
2026: Listed SMEs
2028: Non-EU companies with EU threshold
It is time to get ready, invest in equipment, and embrace a platform such as Greenly that puts you on the leading edge.
Final Thoughts
The Corporate Sustainability Reporting Directive (CSRD) is a game-changer for corporate transparency and responsibility. It pushes companies past superficial sustainability and demonstrates actual, quantifiable progress.
But with Greenly’s technology-based solution, this is made easy, intelligent, and completely in line with changing regulations. Don’t delay until it’s too late—get ahead of the curve today with Greenly, the future-proofing expert in modern sustainability management.