CSRD:
Corporate Sustainability Reporting Directive 

CSRD, with the aligned reporting standards in European Sustainability Reporting Standards (ESRS), will not only change the corporate reporting landscape but also the value creation agenda, as it will be a way to grow trust, value, and performance

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CSRD compliance made simple with Vicosight

The EU’s Corporate Sustainability Reporting Directive (CSRD) impacts the largest corporations within the European Union (EU). The directive requires detailed information on how sustainability issues affect a company’s operations and its societal and environmental footprints. CSRD goes beyond reporting targets and data. It encompasses various business risks and opportunities, including regulatory and reputational risks, supply security, and innovation. It is important to integrate these risks and opportunities into the business and communicate them effectively to achieve your goals.

Vicosight is here to support companies in this new era of sustainability reporting and help our customers stay up-to-date and compliant

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Make ESG reporting as robust as financial reporting

Below is a short list of the key requirements in CSRD reporting:

  • Companies that are in the scope of mandatory CSRD reporting should include their sustainability report as a separate part of the management report, aligning with the annual reporting cycle. 
  • The European Sustainability Reporting Standards (ESRS) are to be used.
  • Companies need to conduct a double materiality analysis to assess financial and impact materiality.
  • The report needs to be externally assured with limited assurance.
  • The Board of Directors is responsible for the published information to the same scrutiny as the financial information.
  • The first wave companies have already applied the CSRD rules for the first time in the financial year 2024, for reports published in 2025.
  • The second wave has been postponed from the financial year 2025 to year 2027, reports being published in 2028.
  • The report should be in XHTML format, eventually tagged with ESRS XBRL taxonomy. (XBRL timeline still open)

 
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How can Vicosight support you with CSRD

Vicosight ensures compliance in today’s and tomorrow’s complex regulatory landscape, without compromising the ability to tell a compelling story. As corporate reporting becomes more complex, involving a larger pool of experts and requiring multi-user and functional collaboration, Vicosight supports seamless content creation in a secure platform.

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