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The European Union's Corporate Sustainability Reporting Directive (CSRD) requires companies to report on their sustainability as part of their annual reporting. From 2024 onwards, CSRD obliges all large publicly traded companies to report on their sustainability according to the new standard.

After that, the directive progresses in stages. In 2025, reporting obligations will expand to all companies meeting two out of three criteria:

✔ More than 250 employees

✔ More than 50 million euros in turnover or

✔ More than 25 million euros in balance sheet total.

Limits are defined in the EU directive, which vary according to national implementation.

Greenstep's combined team of sustainability and CFO services can help you understand the requirements of the new sustainability reporting directive and take the necessary actions.

Greenstep is known as a comprehensive partner for its clients.

Get all the necessary services to support your company under one roof from us.

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Greenstep's unique service package brings together financial reporting and ESG reporting professionals into the same team.

Things to consider in CSRD reporting:

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Sustainability as part of the annual report

In the annual report, a company provides information about its sustainability actions and progress over the past year. This may include details on energy usage, waste reduction efforts, employee engagement, and community involvement. The goal is to demonstrate the company's commitment to sustainable development and achieving its objectives.

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Double Materiality

Double materiality refers to the idea that companies need to be aware of their impacts on the environment and society while simultaneously understanding external environmental and social changes they face and the resulting economic sustainability impacts, including climate risks.

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Limited Assurance

In the context of CSRD reporting, companies are required to obtain limited assurance from an external auditor for their sustainability report. Limited assurance provides a level of confidence regarding the information presented in the company's sustainability report.

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Consolidated CSRD Reporting

In the context of CSRD, companies within a group may be required to provide consolidated reporting, meaning that sustainability data from all group entities is combined into a single report. Consolidated reporting at the group level can provide a more comprehensive picture of the sustainability performance of the entire group, allowing for a more comprehensive view of the group's ESG risks and opportunities.

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ESRS Standards

ESRS standards refer to the technical standards within CSRD, which are specific requirements and guidelines that companies must follow when preparing and submitting their sustainability reports. The purpose of these standards is to ensure that the information presented in the reports is consistent, comparable, and reliable.

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Digital Reporting

Digital reporting refers to the use of digital technology in preparing, publishing, and disseminating sustainability data in a machine-readable format. In the context of CSRD, digital reporting is mandatory for all companies falling within the scope of the directive.