Smart Innovators: Consulting Services For CSRD And ESG Regulation Readiness

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Executive Summary

The era of mandatory ESG and sustainability disclosures is upon businesses globally, compelling them to rapidly realign internal processes with diverse external requirements. Against this backdrop, this report provides buyers of consulting services for Corporate Sustainability Reporting Directive (CSRD) and other ESG regulation readiness with a high-level benchmark of the capabilities of 30 consulting providers. C-Suite executives and leadership across a host of functions, such as sustainability, finance, compliance and risk, should use this report to compare the relative capabilities of vendors in seven key services areas, to inform their purchasing decisions for 2024 and 2025. 

Table of contents

Summary for decision-makers
ESG regulations are driving demand for consulting services

Regulatory regimes are forcing businesses to disclose their ESG and sustainability ambitions, actions and performance
Consulting firms respond to market needs by strengthening their reporting and disclosure offerings
Evaluated firms and inclusion criteria
Providers deliver two core areas of services for CSRD and ESG regulation readiness
Reporting and disclosure engagements define a firm’s approach to regulatory compliance
Businesses rely on consulting firms to design and implement the requisite digital architecture for reporting and disclosures
Consulting providers invest vast resources to strengthen capabilities for regulation readiness
Factors firms should consider when selecting a consulting services partner
Businesses require service providers to invest in their data management, reporting and disclosure capabilities

Table of figures

Figure 1. Business implications of the current ESG and sustainability reporting regulatory regime
Figure 2. ESG and sustainability disclosure and reporting regulations around the world
Figure 3. CSRD transposition status update for 27 EU member states and 3 EEA EFTA countries
Figure 4. Spend on consulting services for reporting ESG and sustainability data in 2024 compared with 2023
Figure 5. Ways in which consulting firms can help organizations prepare for CSRD and other ESG regulations
Figure 6. Consulting firms with CSRD and ESG regulation readiness capabilities, and with fewer than 50 consultants
Figure 7. Capabilities framework
Figure 8. CSRD and ESG regulation readiness consulting service providers: capabilities assessment
 

About the authors

Priyanka Bawa

Senior Analyst
Priyanka is a Senior Analyst in the Verdantix ESG & Sustainability practice. Her current research focuses on ESG and sustainability consulting services and social aspects of ESG regulations, reporting and disclosures. Prior to joining Verdantix, Priyanka led diversity, equity and inclusion (DE&I) research in the legal and environment sectors. She holds a DPhil in Social Policy from the University of Oxford.

Kim Knickle

Research Director, ESG & Sustainability
Kimberly Knickle is Research Director of the ESG & Sustainability practice at Verdantix. Her research areas encompass ESG regulations and reporting, ESG risk, supply chain sustainability, circular economy, social impact, and sustainable finance. Kim has worked for more than 20 years in the IT industry, providing research and analysis to help companies invest wisely in new technologies. Before joining the analyst industry, she held various roles in IT services, engineering and product safety testing, beginning her career at Underwriters Laboratories, Inc. Kim holds an MBA from Boston University and a BS in Electrical Engineering from Cornell.

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