You have heard of CSRD (the Corporate Sustainability Reporting Directive), at least in passing. As a new reporting requirement, it calls for your company to submit annual non-financial information, starting in just a few years’ time.
As someone who cares about long-term environmental and social impacts, you like where this is going.
But you are concerned that it will turn into a bureaucratic slog, in which laudable goals are lost in a tsunami of reporting requirements. Far from inspiring staff to do the right thing, you imagine it becoming a war of attrition between staff and some faceless regulators.
After all, you have seen this happen before. So, you have every right to expect that the same thing will happen again.
In this article, we’ll look at concrete ways for your firm to benefit from CSRD and its impact on strategy. There are many early actions to take to prepare, but they have something in common. They all rely on your understanding of the intent behind the framers of the standard - The European Financial Reporting Advisory Group (EFRAG).
In this article I’ll suggest the standard is a “nudge” in a positive direction which can empower your leadership team, strategic planning staff and all stakeholders.
The article is published in full here.
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