The CSRD in a nutshell
What is the CSRD?
The Corporate Sustainability Reporting Directive is an EU regulation designed to boost transparency and hold companies accountable for their environmental, social, and governance (ESG) impacts. If you’re covered by the CSRD, you’ll need to disclose your company’s sustainability practices.
What is the scope of the regulation?
The CSRD applies to large companies, listed SMEs, and financial institutions in the EU. You’ll be required to report on both how your business impacts the environment and society, and how sustainability risks affect your financial performance.
What are the key CSRD requirements?
Under the CSRD, you’ll need to conduct a double materiality assessment, report on climate risks, and provide data on governance and social issues. Your reporting must align with the European Sustainability Reporting Standards (ESRS) and be included in your annual reports.
What is Double Materiality?
Double materiality means you’ll assess how sustainability issues impact your company’s finances, and how your operations affect the environment and society. It’s a critical part of your CSRD reporting obligations.
Your Guide to CSRD Wave 2 Compliance
Get the key insights and tools to achieve CSRD compliance and adopt sustainable reporting
CSRD compliance scope & timeline
Updated post-Omnibus
Large EU Companies
- Large EU companies already under NFRD
- Reports for fiscal year 2024, due in 2025
Additional Large Companies
- Additional large EU companies (≥1,000 employees and €450M+ turnover)
- Reports for fiscal year 2027, due in 2028 *(delayed from 2026)*
Listed SMEs
- Listed SMEs and some smaller entities
- Reporting postponed until at least 2029 *(details under review)*
Non-EU Companies
- Non-EU companies with €450M+ EU turnover and an EU branch or subsidiary
- Reports for fiscal year 2028, due in 2029
Deep dive into the CSRD
Here’s how CSRD compliance works with Sweep
Step 1
Perform materiality assessment
Conduct your double materiality assessment based on your industry sector.
Then, refine your financial impact and impact threshold limits, focusing your efforts on critical sustainability topics.
Step 2
Identify gaps and collect data
Check data availability and potential gaps, and streamline stakeholder engagement with surveys and file imports.
Improve governance by defining clear roles and responsibilities.
Step 3
Check and approve data points
Use an advanced validation workflow to accept or reject an entire survey or individual responses.
Include comments and documents to support answers and provide explanations.
Step 4
Monitor campaign progress
Keep track of your data collection and find any missing information.
Check each indicator’s status and take action. Send reminders to complete reporting campaigns.
Step 5
Run internal controls and audits
Identify and correct any errors, duplicates, and irregularities in your dataset.
Track all changes across the platform, make comments and add supporting documents.
Step 6
Submit CSRD report to authorities
Compile, export, and review your material indicators in the required reporting format.
Tag your indicators for machine-readable format suited for the ESAP platform.
They trust Sweep
“Sweep allows us to consolidate all our greenhouse gas emissions into a single tool, and to differentiate them by brand”
“The sheer amount of data that you have to handle for CSRD compliance is huge, and Sweep helps us manage it in a very structured way. With a task this size, we could otherwise end up in a mess.“
“Sweep makes it much easier to achieve compliance, and really streamlines what is a complex audit process. It brings a lot of value in helping us with CSRD.“
“We know that the data in Sweep is accurate, enabling us to report information to external partners at the click of a button.”
