CSRD Resource Center

The EU Green Deal, initiated in 2020, has led to several critical directives that aim to promote sustainability, transparency, and accountability for companies operating in Europe and globally. Here are the key directives related to corporate sustainability:

  1. Corporate Sustainability Reporting Directive (CSRD):
    • This directive requires companies to be transparent about their sustainability efforts and report their data in a manner similar to financial reporting.
    • The reports will eventually need to be audited, ensuring credibility and accountability. The CSRD applies to a broad range of companies, including large corporations and small to medium enterprises (SMEs) in certain cases.
  2. European Sustainability Reporting Standard (ESRS):
    • The ESRS provides guidance on how to report sustainability data. It defines around 1,000 data points that companies need to consider.
    • A materiality analysis is essential for determining which data points are most relevant to each company’s specific risks and impacts. Companies are encouraged to go beyond these predefined points and assess other potential risk areas related to sustainability.
  3. Corporate Sustainability Due Diligence Directive (CSDDD):
    • This directive emphasizes corporate responsibility, particularly that of boards and executives, to ensure due diligence systems are in place for all sustainability data.
    • It presents challenges, particularly in Asian supply chains, where data verification and transparency can be more difficult to ensure. The directive places responsibility on companies to ensure that suppliers meet sustainability standards and that the data they provide is reliable.

Scandic Sourcing’s Role

  • CSRD Resource Center: Scandic Sourcing offers a resource center to assist companies with reference information and tools for preparing sustainability reports under the CSRD and ESRS frameworks.
  • Support for SMEs: They assist small and medium-sized enterprises with sustainability reporting using GRI, CSRD, and ESRS formats, helping them navigate the new requirements effectively.
  • Support for Larger Companies: Scandic Sourcing helps larger companies audit their supply chains for sustainability, focusing on verified and transparent data, particularly in complex regions like Asia. This includes their Supplier Code of Conduct Program, which ensures supplier compliance with sustainability standards.

If you need assistance or have questions about sustainability reporting, supply chain audits, or compliance with these directives, you can contact Scandic Sourcing at sourcing@scandicsourcing.com

What are the top sustainability reporting standards?

YouTube video

During Elmia Subcontractor 2023 in Jönköping Sweden, Per Linden held a presentation about Scandic Sourcing’s experience with supplier sustainability audits with suppliers in China. This move is in Swedish language. 

Creating a CSRD report involves several key steps to ensure compliance with the EU Corporate Sustainability Reporting Directive. Here's an action plan to guide you through the process: Regularly review and update your CSRD reporting processes to align with any changes in regulations and best practices. This will help maintain compliance and improve your sustainability reporting over time Remember, the first year for larger companies to prepare sustainability reports according to CSRD is 2024, an...

Sustainability reporting has rapidly shifted from a compliance necessity to a powerful strategic tool for forward-thinking companies. As global regulations like the EU's Corporate Sustainability Reporting Directive (CSRD) take center stage, many CEOs view these regulations as burdensome, especially in industries like engineering, where the focus traditionally lies on operational efficiency and cost management. However, sustainability reporting is no longer just about ticking boxes—it can offer s...

The Greenhouse Gas (GHG) Protocol categorizes emissions into three distinct scopes, each representing different types of emissions sources. Understanding these scopes is essential for creating a comprehensive GHG reporting strategy and reducing a company's overall carbon footprint.

Scope 1: Direct Emissions

Scope 1 covers direct emissions from sources that a company owns or controls. This includes fuel combustion in company-owned vehicles, emissions from onsite manufacturing, and leaks from equipm...

What are the top sustainability reporting standards? Navigating all the reporting standards can be confusing at times and it can be tricky to keep up with all the abbreviations used for each standard. There are also several standards that are becoming obsolete or are focused on a very narrow industry e.g. banking. So here is an overview of the top sustainability reporting standards for industrial companies you should be familiar with. 1. The European Sustainability Reporting Standards (ESRS) are...

The Global Reporting Initiative (GRI) is a set of sustainability reporting standards that are used by thousands of companies in over 80 countries. The GRI was established in 1997 as a collaboration between the United Nations Environment Programme (UNEP) and the Coalition for Environmentally Responsible Economies (CERES).Scandic Sourcing has a team of certifed sustainability professionals according to GRI.If you do your sustainability report according the GRI framwework, we can assist you to put ...