EU Corporate Sustainability Reporting Directive: Time To Gear Up For A Huge Opportunity

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Executive Summary

This report helps decision-makers responsible for climate and ESG disclosures to understand the implications of the European Commission’s proposed Corporate Sustainability Reporting (CSR) directive. Reflecting the EU’s objective to lead globally on climate and ESG policy, the CSR directive envisages requiring specific disclosures from 49,000 undertakings with more than 250 employees in the EU. The European Commission estimates that internal and external costs associated with the proposed law will hit €1.2 billion in upfront costs and €3.6 billion in annual costs. To understand how software and services firms should develop propositions for this market, the report provides a detailed analysis of the content of sustainability reporting standards drafted by the European Financial Reporting Advisory Group (EFRAG). To maximize market share, climate and ESG solution providers will need to launch CSR directive offerings in 2022 and fine tune them for client use in 2023.

Table of contents

The EU Is Set To Create A Multi-Billion Euro Market For Sustainability Reporting Solutions 
EU’s Proposed Corporate Sustainability Reporting Directive Is A Tectonic Shift 
The EU’s Sustainability Reporting Standard Is Comprehensive And Complex 
Implementation Of The Corporate Sustainability Reporting Directive Will Start In 2023

Table of figures

Figure 1. The EFRAG Sustainability Architecture Is A Start Point For Digital Solutions 

About the author

David Metcalfe

David is the CEO of Verdantix and co-founded the firm in 2008. Based on his 20 years of experience in technology strategy and research roles he provides guidance on digital strategies to C-level executives at technology providers, partners at private equity firms and function heads at large corporations. His current focus is on helping clients understand their market opportunity tied to ESG investment trends and their impact on corporate sustainability strategies. During his 12 years running Verdantix – including 4 leading the New York office – he has helped dozens of clients grow their businesses through fund raising, acquisitions and international growth. David was previously SVP Research at Forrester and Head of Analysis & Forecasting at BT. He holds a PhD from Cambridge University and also worked as a Research Associate at the Harvard Business School.

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