Smart Innovators: Consulting Services For CSRD And ESG Regulation Readiness
07 Oct, 2024
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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.
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
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
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
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
IKEA, Sustainability Works, Task Force on Climate-related Financial Disclosures (TCFD), Ropes & Gray, Greenomy, Jones Lang LaSalle (JLL), EY, South Pole, AFRY, Ramboll, GLP Capital Partners (GCP), Position Green, dss+, KPMG, Workiva, Capgemini, Global Reporting Initiative (GRI), Gulf Cooperation Council, SCS Consulting Services, BRODIE Consulting, Simply Sustainable, Taskforce on Nature-related Financial Disclosures (TNFD), Morrow Sodali (formerly HXE Partners), Cooltree, Linklaters, G&A Institute, LRQA Group, :response, Boston Consulting Group (BCG), Schneider Electric, Agendi, SLR Consulting, WSP, Buro Happold, Seismic, DFGE, Arcadis, ERM, Det Norske Veritas (DNV), UL Solutions, LinkedIn, Sphera, SuReal, Enablon, J.S. Held, Taskforce on Inequality and Social-related Financial Disclosures (TISFD), Sustainability Accounting Standards Board (SASB), NorthPeak Advisory, Fagor Group, sustainserv, TheRockGroup (TRG), Amman Stock Exchange (ASE), Bureau Veritas, Nexio Projects, CAP Conseil, DEKRA, European Free Trade Association (EFTA), Green Element, US Securities and Exchange Commission (SEC), Deloitte, Watershed, Anthesis Group, UNO INO, PwC, Cognizant, Center for Sustainability and Excellence (CSE), NASDAQ
About the Authors
Priyanka Bawa
Senior Analyst
Priyanka is a Senior Analyst at Verdantix, where she leads research to enable sustainability leaders and services firms to analyse shifting market dynamics and evaluate innova…
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Kim Knickle
Research Director
Kim Knickle is a Research Director at Verdantix, bringing more than two decades of analyst experience to the evolving world of sustainability. Her current research spans ESG a…
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