natcap is the nature intelligence platform for your nature-positive reporting & action.
Identify where you should prioritise your efforts, understand your nature impacts and dependencies, disclose to stakeholders and take action.
See how it works...
Compliance with the Corporate Sustainability Reporting Directive (CSRD) doesn't just fulfil a regulatory requirement. It can enable you to enhance your company's long term growth, alongside reducing nature and environment related risks.
However, the complexity of these standards can seem daunting. In this article, we'll explore the common challenges faced by companies and how you can simplify the process, save costs, and improve reporting quality.
One of the key struggles when it comes to reporting in line with CSRD (& TNFD) is collecting high-quality data across different functions and geographies.
You need to gather a vast amount of data and do it accurately. This challenge is compounded by the need for data to be verifiable and relevant. Plus, it should be replicable so you can track improvements over time. To do this, your business needs robust systems and processes to collect, manage, and store data efficiently and securely.
As standards evolve, staying compliant requires ongoing education and adaptation.
Companies and organisations of all sizes must keep up-to-date with changes and ensure that their reporting evolves accordingly. This could be a full-time role as standards are changing so rapidly.
Stakeholders, including investors, customers, and regulatory bodies, are demanding greater transparency in sustainability reporting.
Companies must provide clear, comprehensible, and detailed disclosures to meet these expectations. This is not only to comply with CSRD requirements, but easy to understand information is crucial to enable business leaders to integrate nature into business decision-making.
Implementing new systems and training staff can be costly.
Companies need to find cost-effective solutions to manage these expenses without compromising the quality of their sustainability reports. Most companies will initially bring in external advisory support, but transition to an automated software solution in the longer term.
The specific expertise required for CSRD compliance is not always available in-house.
As the climate and nature crises deepen, the subject is going to get more complex. You may need to invest in training or hiring new talent, which can be time-consuming and expensive, but will be invaluable in the long run.
Obtaining external assurance on sustainability reports to enhance credibility can pose an additional layer of complexity and cost.
However, it is vital to have a third party verify your data and action plan. This helps to show transparency, while opening up the opportunity for feedback and improvements on the work already done.
Natcap supports companies to measure, report, and act on nature across their sites of interest, portfolios and supply chains.
We provide world leading scientific expertise and proprietary data solutions to enable you to embed nature intelligence into a range of business workflows, such as:
Nature intelligence is business intelligence to effectively meet reporting requirements, manage nature risk, and enable nature positive target setting.
All of natcap’s technical outputs are aligned with the regulation to ensure compliance with CSRD and alignment with the TNFD’s recommendations.
Identify where you should prioritise your efforts, understand your nature impacts and dependencies, disclose to stakeholders and take action.
See how it works...
