Die Corporate Sustainability Reporting Directive (CSRD) is an EU directive that obliges companies to expand and standardize the disclosure of information in the area of sustainability. It is the successor to the Non-Financial Reporting Directive (NFRD) and was adopted to create more transparency, comparability and quality in sustainability reporting. The CSRD is a milestone on the road to a sustainable economy and affects companies from a wide range of industries and sizes.
The CSRD aims to bring sustainability on equal footing with financial reporting. In future, companies should disclose how they integrate environmental, social and governance (ESG) aspects into their business models, strategies and risk management processes. This is not just about the impact of the company on the environment and society (Impact Materiality), but also about the financial risks that arise from sustainability issues for the company (Financial materiality) — this dual materiality approach is a core element of CSRD.
From 2024, the CSRD will gradually affect the following companies:
This requires around 50,000 companies in the EU to report on sustainability.
Reporting is carried out in accordance with the European Sustainability Reporting Standards (ESRS), which were developed by EFRAG (European Financial Reporting Advisory Group). Companies must disclose the following content, among others:
The reports must be mandatory digital, machine-readable And from a independent auditor be audited. This means a significant professionalization of sustainability reporting.
An often underestimated aspect of CSRD is its relevance for mental health at work. This falls under social factors (Social/"S” in ESG) and is addressed explicitly in the ESRS — for example in the ESRS S1 “Own Workforce” standard. Companies must disclose risks, strategies and measures relating to working conditions, workloads and health protection.
This is where the circle comes full circle ISO 45003, the international standard for mental health in the context of occupational health and safety. Companies that work in accordance with ISO 45003 already meet key CSRD requirements for mental health — a strategic advantage for ESG compliance.
Implementing CSRD is challenging for many companies. It requires new processes, data sources, responsibilities and often a new culture of transparency. But at the same time, it offers the opportunity to make sustainability and employee well-being a strategic success factor.
Anyone who sets the right course today can not only minimize regulatory risks with a credible ESG strategy, but also convince investors, customers and talents.
Mental health has a direct impact on corporate success. Mental health problems are currently in 3rd place among the Germany-wide reasons for sick leave and have the strongest growth rate. Companies lose like this 9,000 €/year and employee.
In addition to legally secure GBU Psyche also a decisive economic advantage at the push of a button thanks to reduced downtime due to individual prevention and intervention approaches and anonymous, proactive support through a unique coaching app to promote mental wellbeing.
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