Most companies still unfamiliar with new CSRD rules

Large listed companies are required to report on their sustainability performance starting in 2024. However, not all companies are yet familiar with the new European sustainability guideline, the Corporate Sustainability Reporting Directive (CSRD).

Two out of three Dutch companies have never even heard of it, according to ABN Amro based on research by I&O Research, as part of the Sector Prognoses 2023-2024. These companies are partially dependent on listed companies, particularly in terms of information provision.

The study also reveals that more than half of the surveyed companies believe that the new guideline won’t affect them. ABN Amro finds this lack of awareness concerning. “The fact that two out of three companies are unaware of the guideline indicates that this information inquiry has not yet gained sufficient traction.”

CSRD well-informed

According to the research, one-fifth of the 587 surveyed companies have a basic understanding of what the CSRD guideline entails. Companies in the industrial sector and financial and business services are relatively well-informed. “The industry plays a significant role in CO2 reduction, while financial institutions are expected to make the sustainable performance of their clients transparent,” notes ABN Amro.

Different sectors have varying perspectives on the added value of the CSRD. Forty-two percent of companies in financial and business services see opportunities, such as distinguishing themselves. However, many companies in trade, logistics, and hospitality view the new guideline more as a problem. They particularly oppose the additional administration, which is not welcomed “in this time of weak economic growth,” according to the bank.

CSRD Roadmap

The Dutch Accounting Association (NBA) recently published a roadmap to assist organizations in conducting a materiality analysis regarding sustainability issues. This analysis constitutes a central part of the CSRD guideline.

Also read our post with The Basics of the Corporate Sustainability Reporting Directive (CSRD).

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