Step by step: How to prepare for the CSR reporting obligation
Mandatory & optional: What do you have to and / or want to report?
Mandatory: Check whether your company is required to report in accordance with the CSRD – you can find the latest information on the CSRD requirements here. Then talk to your auditor to clarify the details.
Optional: Make more of your sustainability communication – impress your target groups with your commitment through strategically organised internal and external communication
The reporting obligation applies if your company exceeds two of the following three criteria:
- Balance sheet total over EUR 25 million
- Net sales over EUR 50 million
- Average number of employees over 250
This is how you proceed:
1. Define responsibility:
Who is driving the issue in the company?
- Contact person in the management
- Cross-departmental sustainability team
- Close networking with those responsible for communication
Think ahead:
Establishing a structured sustainability management system will help you in the long term. Don’t just focus on compiling all the necessary information for the first report because this procedure is then due once a year! Set up a holistic sustainability management system from the outset that integrates measures, targets and key figures and fulfils the ESRS standards for CSR reporting.
2. Determine the framework conditions:
Get an overview.
- Define the scope of application according to the CSRD: Find out what your company actually has to report on. Your auditor will support you with this.
- Preparation of the business models: As part of the CSRD, you must carry out a double materiality analysis. This is based on the respective business models. You should therefore create an overview of your products and services, locations and all upstream and downstream processes.
3. Lay the foundation:
Carrying out the materiality analysis according to ESRS specifications
- This is a comprehensive, multi-stage process. The result determines what and how much you need to consider and disclose in future reports. fjol can provide you with expert and practical support.
The materiality analysis in accordance with the CSRD covers the following areas:
- Impact materiality – Inside-Out: Impact of business activities on the environment & society
- Financial materiality – outside-in: risks and opportunities for financial results, resources and market position
- Stakeholder analysis / exchange
4. Proceed systematically:
Start recording quantitative key figures at an early stage – with software-supported sustainability management and reporting from Leadity.
5. Think strategically:
Your sustainability information is now public. Use this to your advantage and categorise the information in a way that your target groups can understand. Develop a communication strategy for your sustainability commitment with Engel & Zimmermann.
- Find lighthouse topics and identify pain points: What can you shine with, where is caution required?
- Creative process: Develop a central idea for sustainability communication – as a communicative bracket for your internal and external presentation
- Set up a communication and content strategy: Who do you communicate with, when and on what channels?
6. It's getting serious:
You are preparing your first sustainability report. Think carefully about what your target groups expect from you. Is a standardised report that is only understandable for experts enough, or do you need more? There are so many options: from a detailed report that combines ESRS and storytelling to an accompanying short report for customer and employer communication.
- Develop the CSRD-compliant report with software support. Discuss the content with your auditors at an early stage.
- Whether formulated with AI or by your internal specialists: Remember to have the text modules and presentations revised by internal or external communication professionals.
- Let’s get down to business: develop target group-orientated publications and measures based on the sober facts and figures in the CSRD report. This will get your employees on board. Make it clear to customers why more sustainability is worth every cent. Look calmly at NGO campaigns and press enquiries. And show what you are really proud of.
Want to find out more? Feel free to get in touch with us.
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