Reflect on these ten points when planning the implementation of your new CSRD reporting:
Analyze the Information Inventory
What information is already available to meet reporting requirements? How sustainable is the current operating model and what additional data needs to be collected?
- New Key Performance Indicators (KPIs)Have you identified relevant KPIS for your company to showcase its sustainable activities and reduce its environmental footprint? Are these KPI calculations possible with the existing process and system structure?
- Analysis Tools
Do you have appropriate analysis tools at your disposal? Can you use them to perform real-time analysis for data-driven decision-making that you may need quickly due to unforeseen environmental, social, or governance events?
- Data InfrastructureCan your existing data infrastructure (systems, processes, apps) be used to elicit all the new and demanding CSRD information and produce sustainability reports? Can you collect data from all your facilities?
- Data ManagementIs your data reliable and accurate? Is it available to all those who need it? Which data do you use and in which systems and databases is it stored? Are you able to break down data silos to properly consolidate and contextualize your data? How do you ensure the reliability of your data if collection and analyses were previously performed manually?
- Technological BasisHow well prepared is your IT infrastructure for CSRD? Are you currently able to deliver and prepare all CSRD data in the required form – without the need to invest significant time to create the reports? Does your company have a data management platform with a safe data hub?
- Reporting StructureWhat processes and roles must be created for reporting? How are the KPIs to be calculated? What system architecture is needed? Can you ensure readily available – but controlled – access to data and reports for those requiring it?
- Phased ImplementationHow will you implement the system for appropriate data management and the required reporting? By when will it be done? Will the implementation require replacing existing systems and will it disrupt your business? What training is required? What preparations need to be made for the audit process?
- CostsWhat additional costs will be incurred as a result of the CSRD legislation?
- Employee InvolvementHow can you motivate your employees to contribute to organizational sustainability efforts when many of them are already working at full capacity?