BOSTON & ZURICH & FRANKFURT, Germany--(BUSINESS WIRE)--Sustainserv, a global management consulting firm that assists clients in developing and executing on their environmental, social and governance (ESG) strategies and programs, today announced the launch of the Sustainserv Disclosure Analyzer (SDA). SDA is a free online tool that companies can use to determine which disclosures they are obligated to make under the European Union’s Corporate Sustainability Reporting Directive (CSRD).
“Many companies are confronting the challenge of navigating compliance with the EU’s Corporate Sustainability Reporting Directive,” said Dr. Matthew Gardner, Managing Partner for Sustainserv in the U.S. “Once they have completed the required Double Materiality Assessment, they then need to determine which of the hundreds of disclosures they must provide in their Sustainability Statements. In our work, we often see great value with simple tools that cut out time-consuming steps and provide direct and immediate value to companies. Moreover, this free tool is available to anyone who needs it, with no subscription or payment required.”
In the European Union, the Corporate Sustainability Reporting Directive (CSRD) is a new set of requirements for companies to assess and disclose various environmental and social risks. Similar to new reporting rules introduced in California last year, the CSRD requires these disclosures not just from EU-domiciled firms, but also any firm doing business within the EU above a certain threshold.
“Companies of all sizes and across many sectors are being impacted by these rules,” added Dr. Ralf Frank, Managing Partner in Sustainserv’s Frankfurt Office. “Since most large to even mid-size companies participate in global supply chains, it is essential that they come up to speed quickly on the implications of these rules and take the first steps to come into compliance. That is why this new offering, and the accompanying tools and processes we have developed will be so valuable.”
The CSRD and the underlying ruleset, the European Sustainability Reporting Standards (ESRS), have strict sustainability disclosure requirements for compliance. For example, the ESRS mandates that companies adopt a “double materiality” perspective, meaning it requires companies to report both on their impacts on people and the environment, and on how social and environmental issues create financial risks and opportunities for the company. As many companies and organizations participate in global supply chains, it is essential that they come up to speed quickly on the implications of these rules and take the first steps to come into compliance.
Earlier this year, Sustainserv launched an in-depth workshop and certification program featuring Prof. Dr. Alexander Bassen and Prof. Dr. Kerstin Lopatta, who are both affiliated with the University of Hamburg and led the development of the ESRS. Since the launch of this program, Sustainserv has conducted several successful workshops in Germany and Switzerland, and the plan is to bring this to other markets including the United States in 2025. In addition, Dr. Gardner will be speaking on a panel on this topic (entitled “Getting Up to Speed on CSRD”) during the upcoming GreenBiz 25 conference.
About Sustainserv
Sustainserv is a global management consulting firm helping companies integrate sustainability considerations into long-term strategies, everyday operations, and communications. Sustainserv holistically approaches sustainability practices, generating value for companies, the environment, and society, working towards a world in which sustainable performance is the norm. Our approach aims to inspire meaningful change in the world every day. To learn more, visit https://sustainserv.com/en/ or follow us on LinkedIn.
