How are you addressing Sustainability CSRD reporting needs of your organization?

Just made the validation and since we are based in Canada, our company doesn’t have to make any report related to the CSRD.

Addressing Sustainability Corporate Social Responsibility (CSRD) reporting needs involves implementing practices that demonstrate your organization's commitment to environmental, social, and governance (ESG) issues. Here are some steps you can take to address Sustainability CSRD reporting:

Standards Adherence: Familiarize yourself with global reporting standards like GRI, SASB, and TCFD to guide your reporting.

Strategic Goals: Clearly define measurable sustainability objectives that align with the UN SDGs, providing a strategic roadmap.

Stakeholder Involvement: Engage key stakeholders for valuable insights, ensuring their perspectives are considered in your reporting.

Materiality Assessment: Identify and prioritize the most impactful sustainability issues through a materiality assessment.

Governance Integration: Embed sustainability into your organization's governance structures, ensuring top-level commitment.

Operational Integration: Implement sustainable practices throughout your operations and supply chain, reducing environmental impact.

Employee Awareness: Invest in employee training programs to enhance awareness of sustainability practices.

Technology Implementation: Leverage technology for efficient data collection, analysis, and reporting.

Data Reliability: Regularly update and verify sustainability data to maintain accuracy and reliability.

Transparent Communication: Clearly communicate goals, progress, and challenges in your sustainability reports, fostering transparency.

This provides a balanced level of detail to comprehensively address Sustainability CSR reporting needs for your organization.

We are taking an integrated approach. Finance and Sustainability are co-leading the project with the support of a consulting firm and our auditors. We are currently working on the assessment of the double materiality, ensuring a most pragmatic approach - and validating the approach internally and with the auditors. In parallel we are looking at the data aspect, assessing the ability to collect the data. We are also assessing what is the target operating model to support the ongoing work with CSRD, as we might need to have a reallocation or a retraining of resources to be able to fulfill the requirements and get the maximum benefit for our sustainable business.