CSRD: Transition project towards the new directive
Transitioning to the CSRD Directive
On December 16, 2022, the final text of the Corporate Sustainability Reporting Directive (CSRD) was published in the Official Journal of the European Union. This marked the culmination of a months-long process, beginning with the European Commission’s proposal in April 2021, followed by a political agreement in June 2022 on a revised version of the directive, and finally, its formal adoption by the European Parliament and the Council.
New obligations under the CSRD
Our experts are ready to support you in implementing the new CSRD requirements—regardless of your starting point or current level of maturity in ESG reporting.
In practice, the CSRD introduces major transformations aimed at reinforcing the role of sustainability challenges within corporate strategy, governance, and risk management. It also increases the accountability of governance bodies to a wide and diverse range of stakeholders, all with different needs and expectations.
The impact of CSRD implementation
Implementing the CSRD can have significant effects on various dimensions of your business, including:
- The clear integration of sustainable development goals into your corporate strategy, and the level of executive involvement in defining, executing, and managing that strategy;
- The depth and effectiveness of stakeholder communication, including investors, around your sustainability strategy and performance;
- The structure, relevance, and quality of your sustainability disclosures, along with future standardized ESG indicators.
How we support your CSRD Transition Project
We assist your organization in managing the transition to CSRD compliance by helping you to:
- Understand and stay updated on the latest CSRD developments through dedicated executive training programs;
- Conduct a Gap Analysis to assess current readiness and anticipate necessary actions;
- Identify, measure, and forecast impacts to shape your sustainability strategy and build a roadmap, based on a double materiality assessment that maps out key sustainability risks and opportunities;
- Define strategic priorities and KPIs aligned with your business objectives;
- Design and roll out action plans based on your tailored roadmap;
- Adapt your organization, processes, and data management systems to support accurate, compliant, and auditable reporting (including preparation, storage, and internal control);
- Assist with your annual sustainability reporting process, including the drafting of your Non-Financial Statement and Sustainability Report;
- Perform external assurance services on your sustainability disclosures and non-financial reports.
Why choose Forvis Mazars
- Stay ahead of regulatory change, with timely updates and expert insight tailored to your sector and context;
- Manage operational complexity by relying on proven methodologies for implementing new sustainability disclosure requirements;
- Leverage an integrated approach for a reliable and efficient transition, supported by multidisciplinary teams;
- Gain a comprehensive view of your compliance journey—from strategy to reporting—through the combined expertise of our ESG, risk, audit, legal, and digital specialists.
To learn more, get in touch with our specialized advisors to discuss your questions and find agile, tailored solutions to meet your specific needs.