Solution: Verification of sustainability reports (CSRD)

Commitment to independent verification of sustainability reports

With the new EU Corporate Sustainability Reporting Directive (CSRD), new standards, the European Sustainability Reporting Standards (ESRS) and an additional independent verification of sustainability reports will become mandatory.

The European standards are currently still being finalized and the audit obligation will be phased in from the 2024 reporting year.

Verification by independent third parties ensures that your CSR report correctly reflects all material sustainability aspects . An independent audit also signals a high level of trustworthiness to your stakeholders and also shows your company potential areas for improvement.

Global Reporting Initiative (GRI)

A corresponding CSR report (Corporate Social Responsibility) presents the main areas of activity of a company and their impact on a wide range of areas and shows the measures taken and planned.

Various international working groups have formulated guidelines to standardize the processes and content of sustainability reporting. The best known worldwide are the standards of the Global Reporting Initiative (GRI), a non-profit foundation. They create a sound basis for reporting on the economic, ecological and social impact of business operations.

Four central reporting standards

In addition to basic company information such as size, legal form and marketed products, a sustainability report must meet the following reporting standards according to the GRI:

• General reporting principles, presentation of the management approach for sustainability aspects
• Indicators for environmental topics
• Indicators for economic topics
• Social indicators (decent employment, labor practices, etc.)