Corporate Sustainability Reporting Directive (CSRD) Support

Gain insights into your current reporting practices with Ricardo's EU ESG Diagnostic – a comprehensive snapshot of how your company aligns with the European Sustainability Reporting Standard (ESRS).

By understanding your current state, your organisation can make quick and informed decisions to enhance your sustainability reporting process prior to a double materiality assessment.

Find out more about our EU ESG diagnostic

The CSRD requires a double materiality assessment to determine which environmental, social and governance (ESG) topics should be reported against. Materiality assessments enable prioritisation and reporting on the topics which are most important to your business operations as well as your peers and stakeholders. 

Ricardo’s double materiality assessment will give you clarity on the most important areas for your business through both an impact and a risk lens to enable informed decision making. Our support includes:

• Mapping stakeholders and the value chain
• Engaging stakeholders
• Identifying impacts, risks, and opportunities
• Visualising impact and financial materiality on a double materiality matrix
• Interpreting your results

Find out more about double materiality in our blog: Doubling up: why materiality matters and double materiality is the essential next step

The European Sustainability Reporting Standards (ESRS) define the topics for reporting under the CSRD. Companies must produce disclosures including governance, strategy, risk management and metrics and targets for material topics (as identified by the double materiality assessment) in accordance with the ESRS. Ricardo offers a comprehensive examination against the standards, with recommendations based on your materiality matrix, ensuring a targeted and strategic approach to enhance your reporting practices.

Our deep dive into your material issues, alongside our ESRS gap analysis, forms the foundation towards a comprehensive understanding of your CSRD reporting strengths and areas for improvement, ensuring a robust and informed enhancement reporting strategy.

Through a strong understanding of your ESRS gap analysis, our experts provide clear strategic direction and tailored advice in the form of a bespoke roadmap and implementation plan.

The plan empowers your business to implement effective actions for CSRD reporting and includes a detailed timeline, ensuring a systematic approach to closing gaps and achieving milestones on your sustainability journey. With Ricardo, your ESG roadmap becomes a clear and actionable plan for sustainable success.

Alignment with CSRD will likely necessitate changes in your governance, processes and controls. Ricardo’s experts can help you review your operations, make recommendations for improvement and support the implementation of change for optimal outcomes. 

Our support includes bespoke advice and the development of ESG-related tools, systems, and strategic plans to foster organisational change. This tailored approach ensures that governance structures and operational processes align seamlessly with the CSRD and other sustainability reporting policy and initialitves, facilitating a smooth transition journey within your organisation.

The CSRD reporting landscape is challenging, but Ricardo’s experts can guide your organisation to seamlessly incorporate CSRD disclosures into your annual report or develop a dedicated sustainability/ESG report. Ricardo specialises in creating tailored reports that reflect your vision, explain your goals and effectively communicate tangible sustainability progress to key stakeholders.

In addition, our proactive approach includes conducting thorough pre-audit checks and reliable ESG assurance and verification processes. Our support means you’ll be ready for scrutiny and will have a robust and compliant reporting framework for your organisation.

Find out more about how we can support you with CSRD alignment and your wider sustainability journey.

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