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As CSRD reporting continues to become more compulsory for companies across the European Union, many businesses are resorting to the use of CSRD reporting platforms to make sure they don’t miss any of the mandates required by the CSRD.
Select small to medium sized businesses will also be required to comply with CSRD reporting by 2026 – making now the perfect time to read about the different CSRD reporting platforms available, and ensure the best choice is made for your business.
In this article, we’ll give a quick recap on the CSRD, the 5 best CSRD report platforms in 2024, and how your company can get started with the CSRD.
The CSRD, otherwise known as the Corporate Sustainability Reporting Directive, is an EU-based piece of regulatory framework guided towards making non-financial reporting compulsory across the bloc and eventually around the world.
The CSRD currently requires all companies already required to comply with the NFRD with two out of three of the following:
However, the CSRD is slowly becoming imperative amongst smaller-sized businesses – such as is depicted below:
By 2025, the CSRD will be compulsory for large companies with:
By 2026, the CSRD will be mandatory for small and medium sized companies with:
💡By 2028, the CSRD will be required for all non-EU companies with a €150,000 (around $162,000 USD) and at least one branch located in the EU.
👉 The CSRD aims to encourage greater transparency and accountability, as companies will be required to share the impact of their business activities on the climate, their climate risks, and how the company manages these roadblocks.
CSRD reporting is essential to help build greater transparency across various industries around the world, which is paramount in our global efforts to reduce climate change.
💡The main goal of a CSRD reporting platform is to help simplify the process for companies by assisting them with collecting data and providing them with the proper tools to make sure their business is compliant with their requirements under CSRD reporting.
A few additional reasons why CSRD reporting is crucial in the midst of a global effort to mitigate climate change include the following:
👉CSRD reporting will ultimately create a ripple effect across all other areas of companies and their future business activities – as they will grow more cognizant of the overall impact created by their business activities, and seek to adjust them accordingly for CSRD reporting and other future environmental initiatives.
CSRD reporting is relatively new, which means that CSRD reporting platforms also have yet to accumulate a long-standing track record – but don’t worry, we’ve rounded up our top 5 CSRD reporting platforms to share.
Here our top 5 picks CSRD reporting platforms as of 2024:
We offer our own CSRD reporting platform at Greenly!
Our platform aims to simplify the process of CSRD reporting with the option to conduct a double materiality assessment, work with certified partners, risk assessment tools, and streamlined data collection.
We can also help with:
👉 Greenly is a great choice if your company needs a well-rounded and personalized approach to preparing your CSRD report, especially as we can help your company every step of the way with specialized tools and specialized support.
Brightest is a great choice for your company if your business is looking for a more well-rounded approach to CSRD reporting. This is because Brightest is focused on streamlining ESG management, social impact, and sustainability onto one platform – all of which are relevant to CSRD reporting.
Key aspects of Brightest include:
Adheres to the TCFD, CDP, and UN Sustainable Development Goals (SDGs)
Enablon is a CSRD reporting platform that allows users to view a full scope for the best ESG management possible while also helping companies to improve their sustainable performance and ultimately assist them with their CSRD reporting.
Enablon offers clients:
👉 Enablon is the best choice for companies looking for a CSRD reporting platform with detailed data collection and analysis that can be used for a variety of reporting requirements.
This CSRD reporting platform allows users to manage their ESG risks in addition to utilizing and ESG opportunities, ultimately – with the goal in mind to help companies take a proactive approach to sustainability.
Additional key offerings from Convene ESG include:
👉 Convene works to make data collection and management simpler so that companies can make it easier to comply with climate-related disclosures.
IBM Envizi is a CSRD reporting platform that adheres to the requirements of the Task Force on Climate-related Financial Disclosures (TCFD) and the European Sustainability Reporting Standards (ESRS).
IBM Envizi is a suitable choice for companies looking for an inclusive CSRd reporting platform, as IBM works to ensure ESG requirements are met across various ESG frameworks – from Sustainability Accounting Standard Board (SASB), the Global Reporting Initiative (GRI), or the United Nation’s Sustainable Development Goals (SDGs).
👉 Therefore, IBM Envizi might be the best choice for a company with multiple international operations or wants to ensure climate-related disclosures can be adhered to regardless of the geographical location where the reporting will take place.
Your company can get started with CSRD reporting by selecting a framework to follow, setting goals, collecting and analyzing data, and keeping stakeholder engagement in mind.
Here are some things to keep in mind if your company is going to move forward with CSRD reporting:
Overall, complying with the CSRD can prove challenging – but we hope this list of our best 5 CSRD reporting platforms can help your company to get started with this worldwide movement.
If reading this article about the best 5 CSRD reporting platforms of 2024 has made you interested in reducing your carbon emissions to further fight against climate change – Greenly can help you!
It can be challenging to decide which CSRD reporting platform is best for your company, but don’t worry – Greenly is here to help. Click here to schedule a demo to see how Greenly can help you find ways to effectively implement and utilize a better climate strategy.
Greenly can help you make an environmental change for the better, starting with a carbon footprint assessment to know how much carbon emissions your company produces.