CSRD Services
Danesmead Advisory's CSRD team guides clients through every stage of CSRD compliance, from understanding what the regulation means for your business to conducting a Double Materiality Assessment and producing a compliant report.
We support clients through the entire process by providing sustainability and regulatory expertise at each stage. Our service model facilitates “full support” and “consulting light” offerings, tailored to your team's in-house capacity and the level of support you need at each stage.
We Support You With:
Scoping
We provide high-level scoping guidance regarding whether you and/or your portfolio companies are in scope for CSRD reporting and when you are required to start gathering data.
Double Materiality Assessment
Identify relevant impacts, risks and opportunities (IROs) up and down your value chain.
Conduct stakeholder engagement, regulatory reviews, peer analysis, sector controversy and targeted research to feed into the materiality assessment.
Assess scope, scale, remediability and likelihood of each IRO to calculate materiality scores and determine which ESRS topical standards will apply.
Data Collection and Gap Analysis
Map the DMA results to the ESRS to determine reporting metrics.
Project manage data collection, task ownership, input tracking and audit trail for evidence and assurance process. Draft written responses to free text ESRSs.
Conduct gap analysis to identify missing information and assist with filling gaps.
Reporting
Produce an XBRL tagged, CSRD compliant report ready for assurance. CSRD content can also be used for general sustainability reporting for marketing purposes.
Timeline
CSRD is taking effect in phases, the first of which is already in force for companies already in scope for NFRD. Following the Omnibus I Directive - adopted by the EU and in force since March 2026 - the scope of CSRD has been significantly narrowed to large undertakings with more than 1,000 employees and net turnover above €450 million. Listed SMEs have been removed from mandatory scope altogether and are only encouraged to report voluntarily.
2027
EU Large Undertakings
Companies exceeding 1,000 employees and €450m turnover
Reporting 2028
2028
Non-EU Large Undertakings
Non-EU companies with EU turnover >€450m and an EU subsidiary or branch >€200m turnover.
Reporting 2029
Data collection for Large Undertakings has started. Is your organisation ready?
What is CSRD?
The Corporate Sustainability Reporting Directive (“CSRD”) entered into force on 5th January 2023. This directive updates the rules relating to the environmental and social information that companies are required to report (replacing the EU’s Non-Financial Reporting Directive (“NFRD”)).
The goal is to close the gap between financial and sustainability reporting and data. Companies subject to CSRD are required to report in line with the European Sustainability Reporting Standards (“ESRS”). The ESRS were developed by an independent body bringing together different stakeholders called the European Financial Reporting Advisory Group (“EFRAG”).
Reporting must be independently assured; this remains at limited assurance level (the earlier plan to move to reasonable assurance has been dropped). The ESRS themselves have also been simplified, with a significant reduction in mandatory datapoints following EFRAG's revised standards.
EU law will require all companies of 1,000 employees and above to disclose information on what they see as the risks and opportunities arising from social and environmental issues, and on the impact of their activities on people and the environment.
This helps investors, civil society organisations, consumers and other stakeholders to evaluate the sustainability performance of companies, as part of the European green deal.
Read more about CSRD including the finalised Omnibus I changes.
Recent Updates
