Turning CSRD reporting into efficient brand-building

In the beginning of 2024, the new Corporate Sustainability Reporting Directive will take effect, setting new requirements for annual reporting for companies across the European Union.

To make the information easier for users to find and machines to read, companies are required to prepare their report in a single XHTML format and mark up sustainability information, tagged in accordance with a digital taxonomy. Adding this to the usual pain spots of any reporting process (data collection and processing, scheduling, task alignment, data uniformity and such), it is fairly safe to predict that many companies will find themselves in the midst of a downright chaos when the era of CSRD begins.

Luckily, there is still time. Even better, there is a convenient, reliable way to turn this challenge into an opportunity to make an impact in more ways than one.

“The complex nature of CSRD has all the elements that might result in a report that is difficult to read and understand”, Sanna Laakso, Business Developer at CtrlPrint Finland, agrees. “Besides including all the required facts, a good report is visually clear and comfortable to read, both by machines and with human eyes.”

All it takes to make that transformation is CtrlPrint’s sophisticated collaboration platform. Based on the idea of working on data that can be refined with visual software such as InDesign, the platform gathers everyone involved – various departments and external partners such as communication agencies –in the same document. Everyone can work on their own core areas while others can comment. The work progresses smoothly, everything looks good, and the key points are easy to find. The data is correct and identical in every reporting format.

While fulfilling their reporting duties accurately, companies have an efficient tool to easily tell their story to essential target groups at their disposal.

“As CSRD reaches throughout the chains of procurement, it also affects companies who are not accustomed to any kind of reporting besides statutory financial statements”, adds Kaisa Heikka, Business Developer at CtrlPrint Finland. “This should be viewed as an opportunity to tell customers, investors, and potential employees that they are dealing with a company who takes care of sustainability issues exceptionally well.”

With a convenient way to get a hold of CSRD, the time for companies to act is now. While 2024 may seem far away, sooner is also in this case better than later. |

• 2024 Companies subject to NFRD.

• 2025 Companies with at least two out of these: 250 employees, 40 MEUR turnover, and 20 MEUR balance sheet.

• 2026 Listed SMEs, small credit institutions, insurance companies and non-EU companies with a subsidiary in EU and 150 MEUR turnover.

Read more at ctrlprint.net