ESGFinance15 May, 2024

ESG Research Paper: The new ground rules of the CSRD

Read the research paper to see how far along organizations are with CSRD/ESG reporting and the challenges they face.

Sustainability has become one of the highest priorities for organizations, propelled by market demand, government regulation, and increasing intrinsic motivation. With the introduction of the Corporate Sustainability Reporting Directive (CSRD) in 2024, we expect to see significant changes in legislation, especially for large corporations.

For CCH® Tagetik, CSRD was the incentive to explore the current state of affairs for ESG reporting in large corporations.

  • How are corporations preparing for the arrival of ESG reporting?
  • What are the main challenges, opportunities and (practical) solutions?

When it comes to corporate priorities, almost 90% of interviewees indicate that climate impact is growing in importance. While climate impact is rising to the upper ranks of the corporate agenda, it still came second to financial results, which 77% considered the highest priority. Increasing sustainability takes third place, also overshadowed by traditional indicators of corporate success.

It is evident that many organizations still have a lot of progress to make, of which the biggest challenge lies within ‘data’. Over 90% foresee challenges collecting data, while more than 60% also expect problems linking data because of insufficient data quantity, poor data quality, and the amount of manual work required. On Scope 3, the challenges are even greater. No companies are currently reporting complete Scope 3 data, and 30% indicate that they will be unable to provide any Scope 3 reporting at all. It is still too complex.

Download the research report and learn more about the challenges in CSRD and ESG reporting.

CCH Tagetik ESG & Sustainability Performance Management
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