The Corporate Sustainability Reporting Directive (CSRD) is designed to create transparency around sustainability in business, ensuring that reliable and comparable information is reported by businesses across a range of Environmental, Social and Governance (ESG) topics. It will be a big change, increasing the number of reporting companies from 12000 to nearly 50 000 and introducing much more detailed reporting requirements, also in biodiversity.
As part of the CSRD reporting framework, the European Financial Reporting Advisory Group (EFRAG) has drafted a series of European Sustainability Reporting Standards (ESRS), to give specific disclosure requirements for each topic. ESRS E4 is titled Biodiversity and Ecosystems.
Under this set of discoursure requirements, businesses will not only need to assess their impacts on biodiversity, but will also need to have plans in place that guide a transition towards being nature positive by 2050, in alignment with the Post-2020 Global Biodiversity Framework and the EU Biodiversity Strategy for 2030 goals.
Biodiversity impact must be assessed locally, as even small changes in local conditions can impact which species are naturally present, and how they are best protected. Consequently the data requirements for reporting on this topic can be large, and difficult to obtain, particularly for companies with a large and complex supply chain.
But sfeeri can help with this! Request a demo today, and learn more about what we do, and how it can help you.