How can enterprises gain edge with EU Corporate Sustainability Reporting Directive and ESG Taxonomy

In this webcast, discover how the EU CSRD and EU Taxonomy are transforming sustainability and investment strategies in organizations.

The webcast uncovered key aspects for CSRD framework, including:

1. How leading global enterprises are preparing for CSRD led transformation:

a. Are there any specific dos and don’ts that our listeners need to factor in their journey?

b. How do we awaken the entire value chain for this transformation?

2. What should be our key considerations/ leading practices for the CSRD design playbook across:

a. People

b. Policies/ business processes

c. technology/ role of digital?

3. As leading companies prepare for CSRD, how do they balance between both compliance and strategy?

4.  What are the emerging interdependencies (internal and external) that organizations need to factor as they move ahead?

5. How can we create CSRD COE and Innovation Tower at Global Capability Centers(GCCs)/ Global Shared Services

Setting the Groundwork: Speakers covered scope of application, timelines, defining reporting boundaries, CSRD reporting nuances and updates, importance of conducting Double Materiality Assessment (DMA) and aligning with the EU Taxonomy for sustainable activities.

The listed companies are working full speed now and many leading companies are preparing the design framework during 2024.

Integration and efficiency: The significance of Impact, Risk and Opportunity (IRO) analytics for managing sustainability factors and establishing strong governance with cross-functional teams was highlighted. 

Data governance and leveraging AI/digital tools for automation and assurance readiness were also emphasized.

A holistic sustainability data transformation requires establishing a comprehensive data model across various ESG frameworks and embedding it to people-process-technology layers.

Building for Success: The webcast explored models for successful implementation, including the CSRD Reporting Tower for clear reporting structures and the ESG Centre of Excellence (COE) model for Global Capability Centers (GCCs) to coordinate and support CSRD efforts.

Importance of engaging with value chain and positively influencing the external stakeholders was also discussed during the webcast.

Topics discussed includes:

• Scope of application, Reporting boundary framework, Double Materiality Assessment (DMA) and EU Taxonomy alignment
• Impact, Risk and opportunities (IRO) analytics framework
• Governance and cross functional teaming including Finance, Supply Chain, Sustainability, Human Capital, Risk, Controlling, IT etc.
• Importance of engaging with value chain and positively influencing the external stakeholders
• Role of data Governance and AI/ digital for automation and assurance readiness
• CSRD Reporting tower and ESG Centre of Excellence (COE) model for Global Capability Centers (GCCs)