WE HELP YOU TO COMPLY WITH CSRD REQUIREMENTS

It is vital for EU companies to fulfil the requirements of the EU Corporate Sustainability Reporting Directive (CSRD). Implementing these requirements can be a real challenge for many. At FORLIANCE, our aim is to help you to meet these new standards with confidence.

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WHAT HAS CHANGED

STRICT REGULATIONS FOR SUSTAINABILITY REPORTING AS OF 2024

Starting in 2024, many companies within the European Union face new legal requirements for sustainability reporting. The EU Corporate Sustainability Reporting Directive (CSRD), which came into force in January 2024, significantly changed the scope and nature of sustainability reporting. For the first time, affected companies will have to report on the entire value chain.

The aim of the new EU directive is to establish binding reporting standards at EU level and enhance the responsibility of EU companies in terms of sustainability action. 

DOES YOUR COMPANY FULFILL THE REQUIREMENTS OF THE SUSTAINABILITY REPORTING OBLIGATION?

The new EU directive has impacted companies reporting under the NFRD (Non-Financial Reporting Directive) since 2014, but medium-sized companies and even third-country companies listed and operating on EU-regulated markets are affected. It is estimated that the CSRD affects around 50,000 companies across the EU. Implementing these requirements can be a challenge for many. We aim to help you meet these new standards.

Is your company affected by the new Environmental Directive?

Act now and contract us for a no-obligation initial consultation.

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OUR STRATEGY

HOW CAN WE HELP YOUR COMPANY IMPLEMENT CSRD?

  • We account your greenhouse gas (GHG) emissions, covering Scope 1, Scope 2, and Scope 3 emissions according to the international GHG Protocol.
     
  • Together, we develop a climate action strategy for your company, identifying reduction potentials and defining reduction targets. 
     
  • We develop a roadmap to reduce your GHG emissions, guided by the Science-Based Targets initiative (STBi). 
     
  • We offer high-quality GHG removal projects to offset currently unavoidable GHG emissions. 
     
  • We identify climate change risks for your company.
     
  • We analyse biodiversity topics in your supply chain, seeking for solutions to improve the biodiversity footprint.

YOUR BENEFITS AT A GLANCE:

Harness our deep-rooted sustainability consulting expertise and experience in auditing sustainability reports, embodying our commitment to environmental stewardship and corporate responsibility

In our comprehensive workshops, decode the CSRD's essentials, focusing on the ESRS-E1 reporting standard, and lay down a practical implementation path for your business's sustainability journey.

Engage with us for tailored sustainability solutions that resonate with your company's specific needs, ensuring that our strategies drive your environmental initiatives forward.

Select from a variety of sustainability services with the freedom of our modular approach, aligning with your company's sustainability goals and contributing to a greener future.

With our expertise, be well prepared to meet and exceed the ESRS-E1 standard, reflecting your company's dedication to sustainable practices and reporting.

Our detailed work plan includes a precise list of priorities, laying out a strategic approach to sustainability that helps position your company as a leader in corporate social responsibility.

Prepare for the CSRD regulations

Act now and contact us for a no-obligation initial consultation

Milan Pal, Manager Partnerships Climate Solutions
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OUR APPROACH

HOLISTIC CLIMATE STRATEGY

Measure your carbon footprint

Start by understanding your company’s climate impact through a comprehensive assessment of greenhouse gas emissions. This analysis serves as a crucial foundation for all future climate initiatives.

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Set reduction targets

Once you understand your emissions, you have a solid foundation to set strategic, ambitious reduction targets. We support you in developing science-based targets aligned with 1.5°C.

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Reduce your carbon footprint

Implement solutions that boost efficiency, embrace renewable energy, and reduce emissions across your supply chain. These measures reduce your environmental impact and create a path to impactful change.

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Finance climate action

Invest in impactful carbon projects that extend beyond your value chain to compensate for your unavoidable emissions. This includes financing initiatives that generate wider environmental benefits and support global climate goals.

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Communicate and lead

Engage stakeholders by sharing your company’s climate vision. Transparent communication drives corporate responsibility and sets a benchmark for others to follow in the climate action journey.

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What must be reported under CSRD?

Under CSRD, companies must report on a variety of environmental, social, and governance (ESG) factors. The Environment sector demands detailed information on climate change mitigation and adaptation efforts, water and marine resources, circular economy practices, pollution, and biodiversity and ecosystems. The reporting should encompass both qualitative and quantitative data, demonstrating the company's impact and progress in these areas.

What happens if you are not complying with CSRD?

Non-compliance with CSRD can lead to several consequences, including financial penalties, reputational damage, and potential legal actions. Companies may also face increased scrutiny from investors, customers, and other stakeholders, which can impact their market position and overall trust in the brand. Additionally, failure to comply can hinder a company's ability to attract sustainable investments.

Does CSRD require Scope 3 reporting?

Yes, CSRD requires companies to include Scope 3 emissions in their reporting. This ensures a comprehensive assessment of their overall carbon footprint, covering indirect emissions from their entire value chain. By including Scope 3 emissions, companies can provide a more complete picture of their environmental impact and identify key areas for improvement.

Who does the CSRD affect?

The CSRD affects a wide range of organizations, including large companies, listed companies, and certain small and medium-sized enterprises (SMEs) within the European Union. It applies to companies meeting specific criteria related to employee numbers, turnover, and total assets. The directive aims to enhance transparency and accountability in corporate sustainability practices, impacting both European and non-European companies with significant operations in the EU.

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Contact

FORLIANCE GmbH
+49 (0) 228-969 119 – 0
info@forliance.com

Address

Eifelstraße 20
53119 Bonn
Germany