We have developed a comprehensive process for CSRD implementation, consisting of five essential steps to help you achieve compliance. Following this structured approach will lay a solid foundation for your CSRD reporting.
No matter the scope of your ESG reporting goals, adopting CSRD will require multiple subprojects, including data management, software selection, EU Taxonomy reporting, emissions reporting, goal setting, and template creation, among others. We are here to support you every step of the way.
Phase 1
Ambition level
Phase 2
Double materiality assessment
Phase 3
CSRD gap analysis
Phase 4
Action plan
Phase 5
Implementation
Whether conducted as part of a CSRD or ESG strategy project, the double materiality assessment holds significant regulatory and commercial importance.
We possess extensive expertise in conducting materiality assessments in accordance with ESRS standards and accompanying guidance from EFRAG. Taking an audit perspective, we ensure the preparation of a fully compliant documentation package that aligns with the requirements for auditors, both under current and forthcoming assurance standards.
Given the great insights the materiality assessment provides into the business, value chain, stakeholders, and peers, we will guide you on strategic opportunities that will be identified during the process.
The EU Taxonomy presents a comprehensive and complex reporting framework applicable to companies within the scope of CSRD and SFDR. It requires companies to identify and analyse economic activities, including both financial data and technical performance criteria.
Navigating the EU Taxonomy demands expertise in financial reporting and IFRS. As such, its implementation requires great knowledge of both financial and sustainability reporting frameworks.
With our extensive experience in EU Taxonomy implementation, we leverage existing data and processes. Our services include initial taxonomy screenings, computation of KPIs, preparation of reporting schemes, development of reporting policies and preparation of underlying documentation.
To fulfill CSRD reporting requirements and meet the increasing stakeholder demands for greenhouse gas emissions, decarbonisation strategies and actions, it is imperative to initiate the calculation of carbon emissions across scopes 1, 2, and 3. Establishing robust carbon accounting processes ensures an accurate and complete reporting of emissions inventories in alignment with regulatory requirements.
Based on your emissions inventory, we conduct analysis to pinpoint opportunities for targeted reductions within scopes 1, 2, and 3. Our services include calculating baseline data, setting targets, and developing your decarbonisation strategy.
To achieve carbon emission targets, we collaborate closely with technical experts to deploy optimal solutions. This enables us to assist you with both carbon removal and carbon offsetting projects, ensuring the adoption of the most effective approaches.
We advise and support in formulating a clear and comprehensive ESG strategy that builds trust and credibility with customers, investors, employees, and other stakeholders. We work closely together with companies to gain a deep understanding of operations and stakeholder expectations, allowing us to deliver tailored advisory services.
Based on a materiality assessment, we identify the key ESG factors with the potential largest impact on the long-term success of a company. We help integrating the ESG considerations into decision-making processes to mitigate risks and capitalise on opportunities. Clear KPIs need to be defined to enable you to measure the effectiveness of your strategy.
We help create a compelling narrative for your sustainability strategy and offer guidance on how to effectively communicate it to stakeholders.
1. Ambition
Setting the level of ambition and ensure commitment with executive management.
2. Priority
Based on the materiality assessment, priority is given to the ESG areas that can have the greatest impact on the company’s long-term succes – both risks and opportunities.
3. Baseline
Collection and evaluation of data to support priorities and baseline determination.
4. Goal setting
Setting specific, measurable and time-limited ESG targets for the prioritised areas. Roadmap defined to implement the strategy targets.
5. Communication
Development of a concise and compelling narrative that conveys the purpose, values, and goals of the ESG strategy. Integrate the plan into the company’s overall strategy. Communicate remotely.
Focused Expertise
With a solid background from audit and financial industries, our advisors offer focused expertise in reporting, assurance, financial communication, and strategy development.
Agility
NORD advise excels in agility, providing tailored services, quick response times, flexible pricing, ensuring seamless alignment with clients' objectives and timelines.
Personalised Services
Our approach ensures personalised attention, bespoke services, and direct engagement with senior advisors, fostering trust and valuable relationships with our clients.
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