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THOUGHT LEADERSHIP
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PROJECTS & ENGAGEMENTS
- ISSB & CSRD Gap Assessment and Readiness Analysis for a General Insurer
- Scope 3 ‘Financed Emissions’ Calculation and Reporting
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THOUGHT LEADERSHIP
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ABOUT US
PROJECTS & ENGAGEMENTS
- ISSB & CSRD Gap Assessment and Readiness Analysis for a General Insurer
- Scope 3 ‘Financed Emissions’ Calculation and Reporting
CONTACT US

SustainOpp ESG Data Solutions and Sustainability Advisory

ABOUT US
PROJECTS & ENGAGEMENTS
- ISSB & CSRD Gap Assessment and Readiness Analysis for a General Insurer
- Scope 3 ‘Financed Emissions’ Calculation and Reporting
CONTACT US

ABOUT US
PROJECTS & ENGAGEMENTS
- ISSB & CSRD Gap Assessment and Readiness Analysis for a General Insurer
- Scope 3 ‘Financed Emissions’ Calculation and Reporting
CONTACT US

CSRD Assurance – The Path to Transparent, Investor-grade Sustainability Reporting

The Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standard (ESRS) mark a notable transformation in how organisations manage their ESG and Sustainability reporting. Central to the directive is ensuring sustainability information is both reliable and accurate.

Assurance is a critical factor in demonstrating this reliability and accuracy. Essentially, an assurance phase involves an independent third-party reviewing the reported data, such as Scope 1, 2 & 3 GHG emissions, and confirming its accuracy based on a predetermined set of standards and criteria, for example, GHG Protocol. This enhances the reliability of the information and aligns with the overarching goals of the CSRD, which aim to manage systemic risks, enable civil society and trade unions to hold companies accountable for their societal and environmental impacts and ultimately channel capital towards socially and environmentally responsible business activities.

The CSRD specifies distinct areas that mandate limited assurance, including:

Performing the double materiality assessments (financial and impact materiality)

Sustainability reporting compliance in line with both the CSRD and ESRS

Marking the sustainability reporting in accordance with Article 29d (ESEF)

Following the reporting standards outlined in Article 8 of Regulation (EU) 2020/852, The EU Taxonomy.

The two main types of assurance are, limited and reasonable assurance. Reasonable assurance required an in-depth review of a company’s sustainability information, granting report readers significant trust. In contrast, limited assurance calls for minimal evidence and fewer processes, thereby reducing the confidence level in the same sustainability information. Considering the complexities and resource demands associated with achieving reasonable assurance, the European Commission has currently opted for the limited assurance stipulation.

The path to CSRD readiness consists of the following key steps: a double or dual materiality assessment, gap analysis, ESG data management, organisational structure mapping, and modifying reports in line with the CSRD requirements. Assurance readiness is integral throughout these phases, with stages like ESG data management and organisational structure mapping requiring heightened assurance scrutiny. The CSRD's assurance requirement applied to all companies within its scope

Failure to comply presents its set of hurdles. Companies grapple with two main threats: reputational and compliance risk, originating from reporting inconsistencies and discrepancies, and the risk of not fulfilling disclosure criteria – the latter potentially presenting repercussions based on the jurisdiction. Strategic planning and possessing the right technical expertise can ensure a seamless calculation and disclosure process, mitigating the risk of misreporting and regulatory investigations.

Assurance doesn't adopt a standard pricing model. Costs fluctuate based on multiple factors such as company size and revenues, industry sector (i.e. NACE code), and whether the company is private or listed. Preemptive preparation for reporting is essential to efficiently manage these expenses.

SustainOpp presents an all-encompassing ESRS Solution tailored to the intricate requirements of ESRS and CSRD. By optimising data sourcing and ensuring compliance, we endeavour to steer entities towards transparent, investor-grade reporting, aiding them in championing their sustainability vision.

HOME
THOUGHT LEADERSHIP
SERVICES
ABOUT US
PROJECTS & ENGAGEMENTS
- ISSB & CSRD Gap Assessment and Readiness Analysis for a General Insurer
- Scope 3 ‘Financed Emissions’ Calculation and Reporting
CONTACT US

HOME
THOUGHT LEADERSHIP
SERVICES
ABOUT US
PROJECTS & ENGAGEMENTS
- ISSB & CSRD Gap Assessment and Readiness Analysis for a General Insurer
- Scope 3 ‘Financed Emissions’ Calculation and Reporting
CONTACT US

SustainOpp Ltd.

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