Expert topic csrd reporting accelerator 2024

Easy, compliant CSRD reporting? There's a tool for that

5 minutes

Are we exaggerating when we say CSRD is the most popular acronym in board rooms these days? We don’t think so. In the coming years, businesses of all sizes will have to comply with the EU’s Corporate Sustainability Reporting Directive. A burden? It shouldn’t be. CSRD is an opportunity to boost your sustainability efforts and secure long-term business success. Plus, Flexso’s brand-new CSRD Reporting Accelerator makes reporting a breeze!

The race towards a more sustainability business has been running for some time. The CSRD, however, is truly propelling companies’ sustainability efforts forward. The clock is ticking: in 2025 already, large, listed companies will have to report on their Environmental, Social and Governance (ESG) practices and impacts under the new European directive. Others will follow in the following years. If you haven’t started yet, now is the time to kick off your journey!

4 steps to streamline ESG reporting

A sustainability journey is, of course, a long-term, step-by-step process that starts with a sustainability strategy, a double materiality assessment and a roadmap with objectives, targets, KPIs and timelines. The CSRD requires that you communicate about these efforts and about your actual ESG performance in line with the European Sustainability Reporting Standards (ESRS), which provide a roadmap for disclosure.

CSRD Package mockup SAP Store v24 steps to streamline ESG reporting

The transition to comprehensive ESG reporting, though, can be challenging. After all, the CSRD is new to all of us. That is where Flexso’s innovative Accelerator for CSRD Reporting, comes in. Offering a structured approach and template, it helps you to

  • Centralize all your ESG data and related documents in one platform

The CSRD Reporting Accelerator provides 11 Excel files where you can fill out all the quantitative data the CSRD requires you to disclose. In addition to fields for economic, environmental, social, governance and EU Taxonomy data, the files include text blocks to describe your ESG strategy, governance, impact, risk and opportunities, targets and measures (narratives). We even included templates and examples of narratives, which you can use as inspiration. Attach related documents and justification files to support your data.

  • Create a digital, CSRD-compliant report

To meet CSRD requirements, companies are obliged to generate reports in a digital format. So, once you’ve inserted all the relevant datapoints, the Accelerator automatically converts the data containers to a pre-built report that is compliant with ESRS guidelines and digitalizes your report.

  • Share your report with internal and external stakeholders, incl. auditors

In order to raise the quality of sustainability information, the EU decided that CSRD reports must get third-party assurance. Our app provides auditors with easy, secure access to your report. Excel-like pivot tables make it easy for them to review the data, to then add comments where needed. To further enhance accessibility, the report can be exported in PDF format, and graphs or tables can be exported offline into Excel or integrated with Excel.

  • Analyze insights, in order to continually enhance your ESG performance

While ESG reporting is a necessity, compliance should not be your only reason to map your sustainability performance. Your customers, employees and society, too, expect you to work more sustainability. Your first ESG report is a perfect starting point to identify areas for improvement. Armed with detailed insights from the granular data in the report, you can identify hotspots and define targets, KPIs and actions to enhance your performance.

Reporting solution for the long term

ESG reporting is not a one-time activity. In the first year of reporting, you may have to start with basic data. As your ESG data sources become richer or you decide to report on more – or different - topics, you can choose deeper levels of granularity or extended reporting capabilities. In the near future, the Accelerator will be open for integration with other systems or data warehouses to smoothen data loading.

CSRD Reporting Mock up 4

CSRD Reporting Accelerator: your benefits

  • Guarantueed CSRD compliance: draft a report that covers all the topics the CSRD wants you to disclose, in the right format and ready for audit;
  • One single source of truth: centralize all your ESG-related data and narratives, plus the related documents, in one platform;
  • Smooth collaboration: share the report with internal and external stakeholders, in a digital or PDF format;
  • Actionable insights: use the data as a starting point to continually improve your ESG performance;
  • Scale as you grow: start with basic data and add deeper levels of granularity as your ESG practices mature.

Tool + human support

And there’s more: our Accelerator tool comes with 80 consulting hours. That means our experts are always at hand to help, whatever advice or support you need from us. In this way, we can really help you meet your reporting requirements quickly and effectively, so that you can focus on identifying and taking the initiatives your business needs to become truly sustainable – and drive growth.

Stop worrying about CSRD reporting: get in touch with our experts.

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Written by

Deotille Mbila

Deotille Mbila Moze