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Sustainability Compliance Made Simple: CORPORATE SUSTAINABILITY REPORTING DIRECTIVE (CSRD)

Navigate Sustainability Compliance with Confidence

The EU Corporate Sustainability Reporting Directive (EU CSRD) mandates companies to disclose their environmental, social, and governance (ESG) impacts transparently. The EU CSRD represents a pivotal shift akin to financial reporting standards, and the implementation phase has already begun for large Public Interest Entities (PIEs). As more companies are required to comply with the EU CSRD, corporate leaders need to understand the scope of sustainability reporting standards recognized under the CSRD as they apply to their business, while considering the broader applicability anticipated in subsequent years.
STRIVE by STX offers a tailored solution suite and specialized guidance to empower businesses to achieve CSRD compliance, helping to streamline corporate adherence to CSRD regulations on ESRS E1 standard (Climate Change). Our comprehensive approach facilitates precise calculation, reduction, and reporting of Scope 1, 2, and 3 emissions, helping to streamline corporate adherence to CSRD regulations.

CSRD Solutions from STRIVE by STX

Renewable Energy Solutions

We provide a diverse range of accredited renewable electricity options that suit your business—from Energy Attribute Certificates (EAC) to Virtual Power Purchase Agreements (VPPA).

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Carbon Credit Solutions

Our solutions are designed to guide you through the complex carbon markets with integrity. We utilize high-quality carbon removals and avoidance credits certified by international standards.

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CSRD Reporting Support

Our expert team offers professional support in designing your corporate action plan and collecting the necessary data for CSRD reporting.

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Why STRIVE by STX

Compliant Scope 2 Disclosure

The CSRD requires market-based disclosure for Scope 2 emissions, necessitating proof of renewable electricity usage through ownership of certificates (EACs). We offer compliant solutions and expert support that you can trust.

High-Quality Carbon Credits

To ensure CSRD compliance, the experts at STRIVE by STX source carbon removal and reduction certificates from high-quality, credible projects.

Compliance CSRD
Solutions

STRIVE by STX offers a portfolio of diverse CSRD-compliant solutions, from energy attribute certificates (EACs) and Virtual Power Purchase Agreements (VPPA) to carbon credits.

Corporate Strategies for Purchasing Renewable Energy

Understand the options available for companies considering procuring renewable electricity and reducing their Scope 2 emissions.

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renewable energy procurement for corporates

FAQs

  • What is the CSRD regulation?
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    The Corporate Sustainability Reporting Directive (EU CSRD), which entered into force in January 2023 in the European Union, represents a significant evolution from the 2014 Non-Financial Reporting Directive (NFRD). The CSRD builds upon the foundation laid by the NFRD, aiming to further enhance corporate transparency, accountability, and sustainability performance across the EU.
  • What kind of companies are mandated to report under the CSRD?
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    Reporting is currently mandatory for large Public Interest Entities (PIEs), including listed companies, banks, and insurers with over 500 employees—all companies that were previously subject to the NFRD. Also, a phased approach to adherence is in place for large EU companies that meet specific financial and employment criteria, listed small and medium enterprises, and their country corporations with significant operations in the EU.
  • Does CSRD apply to non-EU companies?
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    While the CSRD primarily focuses on companies headquartered within the EU, it’s essential to consider potential implications for non-EU companies if they have significant business operations or subsidiaries within the EU.
  • What happens if companies don’t comply with CSRD?
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    Companies that don’t comply with CSRD may face various consequences, including penalties, fines, reputational damage, legal action, difficulties accessing capital markets or securing financing, loss of business opportunities, and increased scrutiny from investors, regulators, and other stakeholders.
  • Is corporate sustainability reporting mandatory?
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    Corporate sustainability reporting is becoming increasingly mandatory in many jurisdictions worldwide. Regulations such as the EU CSRD and similar initiatives in other regions require certain companies (often publicly listed ones) to disclose non-financial information related to their environmental, social, and governance (ESG) performance. These regulations aim to enhance transparency, accountability, and comparability of sustainability reporting among companies, thereby supporting sustainable development goals and addressing stakeholder – like investors’ – demands for more comprehensive disclosure of corporate ESG practices.
  • How does the CSRD directive align with existing sustainability reporting frameworks such as GRI, SASB or CDP ?
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    The CSRD is closely aligned with existing sustainability reporting frameworks such as the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB) by recognizing their standards and providing guidance for their implementation. CDP and EFRAG (who defined the standards to be applied for CDP compliance) have announced a cooperation to maximize alignment. In 2024, CDP will offer webinars and detailed technical guidance material to support companies through their CSRD obligations.
  • Does the CSRD mandate the use of specific reporting formats or platforms?
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    While the CSRD does not mandate specific reporting formats or platforms, it encourages companies to adopt transparent and standardized reporting practices that are aligned with recognized sustainability standards and frameworks. An XBRL taxonomy is being defined to enable digital tagging of CSRD statements by providing XBRL elements (or ‘tags’) for every data point defined in the CSRD disclosure requirements.  The experts at STRIVE by STX can offer a wealth of support for your CSRD assessment and implementation journey.

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