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CSRD Reporting
Software
Generate reports in line with the EU’s CSRD using Mavarick’s platform to complete, track and report to the ESRS
Streamline your process with Mavarick
A Comprehensive Digital System for CSRD Reporting
Data
Processing
Stage
Data flow &
Systems
used
Collection
Automated data ingestion from integrated systems (ERP, IoT, CRM) into a centralised repository.
Transformation
Automated pipelines ensure consistent normalisation and enrichment.
Analysis
Centralised, automated analysis with shared metrics on unified platform.
Standardisation
Automated KPI structuring aligned to frameworks via predefined mappings.
Disclosure
Automated reporting tailored to CSRD with compliance checks
Empower your team to deliver sustainable, real-world results
Take control of your CSRD Reporting
Ensure every material ESRS data source within your organization is accurately captured and documented. Mavarick integrates with existing business systems, allowing for immediate data transformation. Mavarick also monitors entity and asset level data, so you can easily adjust your report granularity.
Use Mavarick’s AI-powered assistant to generate sustainability statements easily, reducing the workload for your teams. All your information is safe and encrypted.
Maintain oversight and control throughout the entire integrated reporting process. Role-based permissions enable you to manage access to information accordingly and not miss deadlines. Moreover, Mavarick’s AI-powered system identifies data gaps and anomalies for your review.
Maintain data consistency and accuracy with Mavarick’s features on audit trails and dashboards that support each datapoints’ verification through recalculation and data source historical tracking.
FAQ
The EU’s Corporate Sustainability Reporting Directive (CSRD) is a regulatory framework introduced by the European Union to enhance transparency in sustainability reporting, encompassing cross-cutting, environmental, social and governance topics.
The CSRD is crucial to the EU Sustainable Finance Strategy, providing transparency and comparability to investors, guiding investments towards sustainable businesses and supporting the European Green Deal's objectives
From public listed companies to SMEs, it is estimated that more than 50,000 companies globally will have to report. Its implementation is phased, the data from the following financial years (FY) are published in the following year:
- 2024: listed companies and consolidated groups with more than 500 employees;
- 2025: large listed and private companies and consolidated groups that meet at least two of the following criteria:
- more than 250 employees;
- balance sheet of 25 million euros; and/or
- more than 50 million euros in turnover;
- 2026: listed small and medium sized enterprises (SME) except micro-companies;
- 2028: listed large subsidiary non-European companies generating a net turnover of €150 million in the EU and having at least one subsidiary that falls within the CSRD’s scope or an EU branch with a turnover of €40 million will need to adhere to the directive by the fiscal year 2029
Companies subject to the CSRD will have to report according to European Sustainability Reporting Standards (ESRS). It consists of 2 cross-cutting topics. The topical ESRS, related to Environment, Social and Governance (see figure below), will vary depending on the results of the double materiality assessment.
The concept of double materiality involves assessing both impact materiality and financial materiality to determine what information should be disclosed. Companies must evaluate their effects on environmental and social factors (inside-out view) and how sustainability issues affect their risk profile and financial performance (outside-in view). To fully grasp their ESG impacts, companies need to conduct a thorough assessment of their operations and strategies, which includes data collection, analysis, and reporting. This process requires substantial resources, expertise, and input from external stakeholders.
Each EU country must incorporate the CSRD into national law and designate responsible bodies for its implementation, leading to varying consequences for non-compliance. In Ireland, the Irish Auditing and Accounting Supervisory Authority (IAASA) is the regulator, and clear rules on penalties are expected to be published soon. In general, the following consequences can be expected:
- Financial Fines: Non-compliance can result in significant financial penalties, enforced by individual EU member states. For instance, Germany can impose fines up to €10 million or 5% of annual revenue, while France can impose fines up to €81,400 and imprisonment for corporate leaders.
- Operational Consequences: Non-compliance can limit access to capital, as financial institutions may favor ESG-compliant companies, and can also make companies ineligible for public procurement opportunities.
- Reputational Damage: Transparency is crucial under the CSRD. Non-compliance can lead to public disclosure of violations, harming a company's reputation with customers, investors, and business partners, resulting in loss of consumer trust and reduced investor confidence.
- Regulatory and Legal Risks: Non-compliance can attract additional scrutiny from regulatory authorities, leading to further investigations, sanctions, and potential legal disputes. Companies may face lawsuits from stakeholders if they are seen as neglecting their sustainability responsibilities.
To mitigate these risks, it is important to invest in a reliable reporting infrastructure in addition to strong internal governance. Reach out to Mavarick’s team to discuss how we can help you.
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