{"id":2189,"date":"2022-11-24T18:37:16","date_gmt":"2022-11-24T17:37:16","guid":{"rendered":"http:\/\/aurexia.com\/insights\/?p=2189"},"modified":"2023-05-03T15:09:00","modified_gmt":"2023-05-03T13:09:00","slug":"focus-on-the-corporate-sustainability-reporting-directive-csrd","status":"publish","type":"post","link":"https:\/\/aurexia.com\/insights\/focus-on-the-corporate-sustainability-reporting-directive-csrd\/","title":{"rendered":"Focus on Corporate Sustainability Reporting Directive (CSRD)"},"content":{"rendered":"<p>The <a href=\"https:\/\/finance.ec.europa.eu\/capital-markets-union-and-financial-markets\/company-reporting-and-auditing\/company-reporting\/corporate-sustainability-reporting_en\" target=\"_blank\" rel=\"noopener\">Corporate Sustainability Reporting Directive (\u201cCSRD\u201d)<\/a> is the latest step of the<br \/>European regulation to harmonize and standardize non-financial reporting and<br \/>obligations. This Directive reinforces the NFRD obligations, and the notion of double<br \/>materiality already introduced with the revision of NFRD.<\/p>\n<p style=\"text-align: justify;\"><strong>CSRD<\/strong>\u00a0 will impact 50 000 companies in Europe to publish coherent and standardized disclosures on ESG impacts of their activities. Corporates and financial market participants such as Banks, Asset Managers or Insurers will be concerned to assess the sustainability profile of their portfolios and allocate capital effectively.<\/p>\n<p>CSRD introduces a new paradigm with the establishment or reinforcement of measures such as double materiality or due diligence \u00a0through the entire value chain. CSRD entry in force is planned of january 5, 2023.<\/p>\n<h3><strong>Focus on double materiality<\/strong><\/h3>\n<p>The CSRD proposal emphasizes the concept of double materiality, whereby entities need to consider both the impact of sustainability topics on the company\u2019s value (financial materiality), and the entity\u2019s impact on the economy, the environment, and people (impact materiality).<br \/>The double materiality implies the need to assess the interconnectivity of the two.<br \/>EFRAG (expected before the end of November 2022) willdevelop a coherent and comprehensive set of reporting standards, covering all sustainability matters from a double<br \/>materiality perspective.<\/p>\n<h3>EFRAG standards (ESRS) for CSRD<\/h3>\n<p>The <a href=\"https:\/\/www.efrag.org\/lab6\"><strong>EFRAG<\/strong><\/a>\u00a0is currently developing the European Sustainability Reporting Standards\u00a0<strong>(ESRS<\/strong>), the first set of draft with more than 130 disclosures requirements and 600 data points has been delivered yesterday to the <strong>European Commission<\/strong><\/p>\n<p>EFRAG-ESRS Disclosure Requirements \u2013 620 qualitative and quantitative data points for E, S and G dimensions:<\/p>\n<ul>\n<li>CLIMATE CHANGE [17 Disclosure Requirements]<\/li>\n<li>ENVIRONMENT [33 Disclosure Requirements]<\/li>\n<li>SOCIAL [44 Disclosure Requirements]<\/li>\n<li>GOVERNANCE [20 Disclosure Requirements]<\/li>\n<\/ul>\n<p>With the first report due in 2025 (on FY 2024), it\u2019s already time for financial market participants to start thinking about their ESG data and processes. Our Global\u00a0<strong>Aurexia <\/strong>experts are at your disposal if you have any questions about this directive and\u00a0share with you\u00a0in which proportion your companies could be impacted.\u201d<\/p>\n<p>\u00a0<\/p>\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill aligncenter\"><a class=\"wp-block-button__link has-dark-blue-background-color has-background wp-element-button\" href=\"https:\/\/aurexia.com\/insights\/wp-content\/uploads\/2022\/11\/Aurexia_CSRD_Teaser_Nov-2022.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">T\u00e9l\u00e9charger le document<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Corporate Sustainability Reporting Directive (\u201cCSRD\u201d) is the latest step of theEuropean regulation to harmonize and standardize non-financial reporting andobligations&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":2180,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[30],"tags":[274,145,275,95],"class_list":["post-2189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-durable","tag-csrd","tag-esg","tag-esrs","tag-sustainable-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - 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