Large public-interest companies in the EU have been required for several years to report on their sustainability measures under the Non-Financial Reporting Directive (NFRD). This reporting obligation is being progressively expanded under the Corporate Sustainability Reporting Directive (CSRD), to be fully implemented by 2028. The CSRD is a cornerstone of the European Green Deal and, according to Germany's Federal Ministry of Labour and Social Affairs, will apply to approximately 49,000 large and high-revenue companies in the EU. The directive aims to make corporate contributions to environmental and social issues more transparent while establishing standardized, comparable European benchmarks.
A key feature of the CSRD is the principle of double materiality: companies must document not only the impact of their activities on the environment and society (inside-out perspective) but also how sustainability factors affect the company itself (outside-in perspective). Reports must be submitted in a standardized electronic format.
In building operations, the CSRD places increased and mandatory emphasis on measures to improve energy efficiency and reduce CO2 emissions. This necessitates the centralized consolidation and exchange of data from various sources, often facilitated through cloud platforms. The directive provides investors and other stakeholders with enhanced data for assessing corporate responsibility, aligning business practices with sustainability goals.
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