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CSRD: Opportunity to secure the future of your strategy

  • Contexto Global's ambition is to support its clients in transforming this regulatory constraint into opportunities to reduce their carbon footprint and strengthen their competitiveness on a global scale. The CSRD is part of the European Green Deal and aims to achieve carbon neutrality by 2050. The new ambitious objectives of the CSRD are as follows:

  1. Integrate the new principle of double materiality.
  2. Increase the accuracy, availability and quality of qualitative or quantitative data published in the extra-financial report.
  3. Extend the scope of the Directive to a larger number of companies compared to the NFRD, including large companies, listed SMEs and international companies operating in the EU. The number of companies affected by the reporting obligation will increase from 11,600 today to almost 50,000 by 2029.
  4. Facilitate the evaluation and comparison of companies by stakeholders , including investors, by structuring extra-financial reporting according to ERSR (European Sustainability Reporting Standards) norms and standards accompanied by indicators (datapoints).
  5. Strengthen control by requiring an external audit by an auditor or an independent third party (OTI), where the NFRD was satisfied with an internal audit.

  • Companies are exposed to multiple and severe sanctions in the event of non-compliance with the CSRD:

  1. An image sanction with the public dissemination of the company's name and the nature of its infringement
  2. A regulatory sanction which may go as far as an order to cease activity depending on the offence
  3. A financial penalty with a fine defined by the Member State. 

  • Complying with the CSRD is a complex and costly process for unprepared companies. Contexto Global has expertise in each of the 5 steps to be taken, from mobilizing stakeholders to developing extra-financial reporting, including in-depth double materiality analysis, gap assessment and data collection. Here are the obstacles that Contexto Global can help you overcome:

  1. The expertise required to conduct a dual materiality analysis and master the ESRS framework : identifying material issues is crucial and requires a high level of expertise. The preliminary step is to finely map the scope of activities, business relationships and the regulatory context of the company. It is then necessary to master all the sustainability issues grouped in EFRAG's ESRS 1 A16 in order to begin the IRO (Impacts, Risks and Opportunities) rating phase, which will identify all the data points to be reported on the 1,200 existing data points.
  2. The know-how needed to effectively train and mobilize stakeholders with sometimes divergent interests : stakeholder engagement and consultation is a key point in the process of assessing material issues. Their training on these technical subjects and their involvement throughout the process require skills that are rarely available internally.
  3. Technical skills related to the development of the data collection system  : the collection and processing of data requires rare profiles capable of setting up a robust data management system and training employees in its use.
  4. Mastering the administrative and bureaucratic burden associated with external auditing: this additional step of verification and responsibility increases the complexity of the reporting process, which can be a pain point for a company's internal departments. Support from a specialized firm can be invaluable.

  • Our firm, at the crossroads of operational and strategic consulting, allows you to go further than simple regulatory compliance with the CSRD. Our personalized support allows you to transform this regulatory constraint into a strategic opportunity to contribute to the fight against climate change while securing the future of your company.

    Need to speak with one of our CSRD experts, contact us !

     
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