Corporate sustainable reporting directive

Starting in 2024, the corporate sustainable reporting directive (CSRD) requires large companies to account transparently for the impact they have through their operations. Environmental and social impact has been a hot topic for some time, but not yet everyone sees the value of such transparency. The CSRD is established to provide a helping hand.

The CSRD addresses working conditions, carbon emissions and codes of conduct. The guidelines apply to large companies if they meet at least 2 of the 3 conditions:

• 250 employees, or more
• €40 million in revenue per year, or more
• €20 million in balance, or more

These organizations make the most impact and also have the potential to drive positive change. Starting in 2025, the rules will apply to other companies as well. Complying companies will face the following guidelines:

• Making figures transparent
• Provide a numerical rationale for the impact
• Establishing long term goals for impact reduction
• Making these goals measurable for later accountability
• Audit reports by external accounts

Accomplishing CSRD guidelines with IBI²/SmartTrackers

SmartTrackers' software is ideally suited to measure all CSRD topics, drive improvement, build records and report to stakeholders.

It is estimated that the draft standards will be made final in 2023. SmartTrackers will, of course, ensure that they incorporate the requirements for achieving the guidelines into their software.

Since both SmartTrackers and CSRD rely on the Greenhouse Gas Protocol, users are also already meeting a significant part of the reporting requirement. We will additionally expand our library to include meters, calculations and quality assurance queries. Users will be informed in a timely manner.