In early 2024, the requirements for all large companies' sustainability reporting will be tightened, and most energy companies will be directly affected. The EU's Corporate Sustainability Reporting Directive (CSRD) will become Swedish law and will, among other things, give sustainability reporting the same status as financial reporting. Many actors in the energy sector already report their environmental impacts in various ways, but the new legislation will require them to analyse and report impacts, risks and opportunities along the value chain for a range of sustainability issues. An important part of sustainability reporting will be the identification and monitoring of a range of indicators, which will require clear internal processes and effective data management. The new directive and its associated standards also require reporting on how sustainability issues are integrated into business models and strategic work and how boards and management are involved in sustainability work.
To successfully implement CSRD in an organisation, many different skills will be required. Sigholm's strength is the deep understanding of the energy industry combined with expertise in data management, analysis and change management. Our strategy is to use the requirements of CSRD to create improved results for our customers, primarily by:
- Lower costs
- Reduced environmental impact
- Reduced risks to the organisation
Early adoption of CSRD can give companies a competitive advantage and secure long-term financing. It is important that the board and management team have the right conditions and knowledge, as they are ultimately responsible for the annual report, which will develop and change through CSRD. Sigholm already works to support management teams in strategy and change management. We are now expanding our offering to include support in setting up the processes needed to maximise the impact of the new legislation. Sigholm wants to be a partner in creating business value with CSRD as leverage.
Do you want to give your company a flying start on CSRD?
- #csrd
The article was published 30/11 - 2023
