Webinar: your guide to the Corporate Sustainability Reporting Directive

The Corporate Sustainability Reporting Directive (CSRD) will change the way Chief People Officers approach tackling racism, discrimination, diversity, equity and inclusion (DEI) and human rights violations. HR teams will need to compile extensive reports and the consequences for non-compliance could be severe, yet many businesses are not aware of these new requirements – let alone how to deal with them.

Our webinar with Shereen Daniels, Managing Director of HR rewired, explained the CSRD regulations and how they relate to HR. Focusing on the S1 Own Workforce, Shereen talked about the practical steps you need to take to prepare your HR team and the business, including:

• How social issues are now being treated as business risks: where this comes from and why it’s changing the premise of what it means to be a responsible business.
• How CSRD regulations are expanding the scope of corporate reporting to encompass social issues, including racial equity, DEI, and human rights: what this means in real terms and why it matters.
• How to navigate politicised environments with sensitivity and strategic foresight: practical tips on how to avoid costly mistakes that can result in damaging your brands reputation.
• Preparing for CSRD reporting: what needs to be the priority areas of focus and why

About the CSRD

What is it?

The CSRD brings sustainability reporting in line with financial reporting. The new framework will be rolled out in a phased approach from 2024. It will require companies to report on how sustainability issues, such as climate change and discrimination, impact their business and how their operations in turn affect people and the planet.

who needs to comply?

If your business meets the following criteria, you will be required to comply with the CSRD:

• You are a large company with headquarters in the EU. The CSRD classifies a large company as one meeting two of these three criteria: more than 250 employees, a turnover of over €40 million and over €20m total assets
• You are a listed SME (although there will be a transitional period where SMEs can opt out until 2028)
• You are a non-EU headquartered company with a turnover of over of €150 million in the EU, an EU branch with net revenue exceeding €40 million, or an EU subsidiary that meets the definition of a large company