Sustainability reporting in view of the CSRD

Sustainability reporting in view of the CSRD

Sustainability reporting is becoming a major element of the activity of enterprises and an instrument contributing to positive changes that benefit society and the environment. At the beginning of January, the Corporate Sustainability Reporting Directive (CSRD) came into effect. It is intended to harmonize the reporting standards in the area of sustainable development in the EU Member States and improve the transparency of the information provided by companies. The experts at Dalkia Polska are analyzing its impact on enterprises.

The CSRD has introduced new reporting obligations that apply not only to large listed companies, but also to smaller business entities.

Three steps of implementation

 “The implementation of the CSRD takes place in stages, considering the number of employees and the financial thresholds for enterprises,” Dr. Natalia Stradomska, Chief Regulatory Affairs Officer at Dalkia Polska, says.

The CSRD provides for a three-step implementation process of the new reporting obligations. The first to report, already for 2024, will be the companies that are now obliged to produce non-financial statements under the Polish Accounting Law. Reporting for 2025 will be obligatory for all the other large, listed and non-listed entities, as well as other large corporate groups (i.e., all parent entities in large corporate groups), while small and medium listed companies will have to produce reports in accordance with the new requirements for 2026.

What CSRD changes 

“The new regulations in terms of sustainability reporting have immense impact on both companies and societies. As a result of the introduction of the obligation to report, groups of stakeholders, such as investors, clients, trade partners, and financial institutions, will have access to more comprehensive and reliable information concerning the activities of the given company in the area of sustainable development,” Natalia Stradomska says.

The implementation of the CSRD will allow investors to evaluate the risks and opportunities related to the ESG aspects of an enterprise in a more precise manner. For the reporting companies, the new obligation is an opportunity to demonstrate their social responsibility and commitment to sustainable development. This may help to win trust from clients, investors, and trade partners. Companies that display engagement will also be more likely to acquire capital for the development of their projects. What is more, the introduction of uniform reporting standards reduces the need to provide investors, banks, or trade partners with various reports if they require certain information.

ESG and business transformation 

The new standards are just one element of the multidimensional transformation of business that we are witnessing. Both the enterprises that are preparing to report and the entities that have already taken ESG actions as part of voluntary initiatives are facing numerous challenges in terms of adjusting their businesses to models that take sustainable development into account. Efficient management of energy utilities is definitely one of such challenges. In an attempt to help take these challenges on, Dalkia supports enterprises in energy transition, offering solutions adjusted to the needs and capabilities of industrial plants, from design and implementation to management.

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Last Updated on January 23, 2024 by Anastazja Lach