Sustainserv Launches Free Tool for CSRD Compliance
The tool is free to use and available to everyone without a subscription or payment.
The launch is part of the consulting firm's efforts to simplify the compliance process for companies.
Sustainserv, a Zurich-based ESG business consulting and strategy firm, has launched a free tool—the Sustainserv Disclosure Analyzer (SDA)—to help businesses understand their obligations under the Corporate Sustainability Reporting Directive (CSRD).
“Many companies are confronting the challenge of navigating compliance with the EU’s Corporate Sustainability Reporting Directive,” said Dr. Matthew Gardner, Managing Partner for Sustainserv in the U.S. “Once they have completed the required Double Materiality Assessment, they then need to determine which of the hundreds of disclosures they must provide in their Sustainability Statements. In our work, we often see great value with simple tools that cut out time-consuming steps and provide direct and immediate value to companies. Moreover, this free tool is available to anyone who needs it, with no subscription or payment required.”
What is CSRD?
It is a new set of rules and regulations introduced by the European Union (EU) that requires companies to report on their environmental and social risks. The CSRD applies to all companies doing business in the EU and is part of the EU's effort to improve sustainability transparency.
Under CSRD, the companies should report: first, activities that impact the environment and society, and second, how environmental and social issues affect the company.
SDA helps companies identify the specific disclosures they need to make under the CSRD. The process begins when a company conducts a Double Materiality Assessment to understand the impact of its activities and the potential risks it faces. Subsequently, the tool will suggest which disclosures the company should report.
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“Companies of all sizes and across many sectors are being impacted by these rules,” added Dr. Ralf Frank, Managing Partner in Sustainserv’s Frankfurt Office. “Since most large to even mid-size companies participate in global supply chains, it is essential that they come up to speed quickly on the implications of these rules and take the first steps to come into compliance. That is why this new offering, and the accompanying tools and processes we have developed will be so valuable.”
Sustainserv's new tool is very useful. First of all, it is free, and it also saves time while being widely accepted. In addition, the sustainability consulting firm has launched workshops and certification courses to help businesses better understand CSRD reporting. Currently, these programmes are available in Switzerland and Germany, with plans to expand to the US in 2025.
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Source: Sustainserv
