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CSRD in business practice

Companies should introduce processes promptly in order to fulfil EU directive requirements effectively.

It is worthwhile for companies to implement processes sooner rather than later in order to fulfil the requirements of the EU directive. But where and how to start?

Compliance with the Corporate Sustainability Reporting Directive (CSRD) means that companies need to provide deep and broad expertise in many areas as well as the corresponding capacities. Firstly, it is advisable to appoint a competent contact person for CSR issues, if this has not already been done. This person should have the necessary expertise and responsibility. The support of the communications department and/or a PR agency can be helpful in the process in any case.

 

Preparation time for developing knowledge and data management
The scope of the new European Sustainability Reporting Standards (ESRS) requires a large number of internal departments to be involved. An established workflow, regular meetings of internal teams and external coordination meetings with stakeholders as well as the continuous collection of data ensure that transparency is guaranteed and potential gaps are closed.

Internal knowledge building and a roadmap with measures that need to be worked through successively require an appropriate lead time. Data management is a major area here. In order to determine complex CO2 emissions, it may be necessary to invest in appropriate software and/or utilise external consultants. In any case, the data must be prepared in a standardised and comparable manner and put into context so that it can be interpreted.

 

Communicate progress honestly and transparently
The path to sustainability is a long-term endeavour, so it is important to clarify the direction in which the company wants to develop: Is there a concrete strategy to make products and processes more sustainable? What goals should be achieved in the next two, five or ten years?

Companies should be ambitious in their approach, but still remain realistic. If the challenges are identified, the next steps are clearly communicated and progress is presented transparently, the company’s credibility is also strengthened – both internally among employees and vis-à-vis customers and the general public.

In order to communicate a company’s success in the area of sustainability, it makes sense to bring PR expertise on board. After all, communications experts know which news has real news value, how and through which channels the information reaches its target group and how greenwashing can be avoided through transparency and honesty.

 

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