PwC’s Inaugural Global CSRD Survey 2024: The Promise and Reality of CSRD Reporting
Overview:
According to PwC’s Global CSRD Survey 2024, Dutch companies are leading in readiness and confidence for implementing the new Corporate Sustainability Reporting Directive (CSRD). An impressive 79% of Dutch businesses expect to comply with the CSRD on time, significantly surpassing the global average of 63%. This optimism is fueled by progress made in CSRD implementation, even as challenges related to data quality, value chain complexity, and human resources persist
Summary:
In a recent development, PwC’s inaugural Global CSRD Survey 2024 reveals that companies are increasingly factoring sustainability into their decision-making processes as they prepare to report under the EU’s Corporate Sustainability Reporting Directive (CSRD). This survey, which included over 500 senior executives and business professionals, found that about three-quarters of companies are giving more weight to sustainability in business decisions. Here are some of the key takeaways from the research:
Source: https://www.pwc.nl/en/insights-and-publications/themes/sustainability/global-csrd-survey-2024.html
Sustainability Integration
Companies are increasingly factoring sustainability into their decision-making processes as they prepare to report under the EU’s Corporate Sustainability Reporting Directive (CSRD).
This directive, backed by 12 European Sustainability Reporting Standards (ESRS), will affect about 50,000 companies globally.
Optimism and Challenges
Businesses anticipate several benefits from CSRD implementation:
Improved environmental performance.
Enhanced stakeholder engagement.
However, challenges persist:
Data availability.
Staff capacity.
The need for new technology to support the transition.
Readiness and Upside Potential:
Nearly two-thirds of companies express confidence in their readiness to report under CSRD.
Those further along in their implementation journey are more optimistic about business benefits.
Dutch Readiness Leading the way:
According to the research Dutch companies have the highest confidence in being ready for CSRD with 79% of respondents reporting as such.
This is compared to 63% globally.
Although Dutch companies express strong confidence, they encounter notable hurdles related to data availability and quality, intricate value chains, and adequate human resources. Approximately 50-60% of respondents identify these as significant obstacles.
In summary, as Dutch companies lead the way, they contribute to shaping sustainable reporting practices globally.
Source: https://www.pwc.nl/en/insights-and-publications/themes/sustainability/global-csrd-survey-2024.html
