R&V (Germany) has embarked on a comprehensive initiative to align with the Corporate Sustainability Reporting Directive (CSRD). The company initiated its CSRD compliance journey with an extensive materiality analysis. Although this process was more time-consuming than initially expected, it proved vital for identifying the topics most relevant to the organisation. This analysis laid the groundwork for R&V’s structured approach to meeting CSRD requirements.

R&V is in the process of developing a preliminary report that combines existing data with new CSRD-specific requirements. The CSRD represents a significant evolution from the Non-Financial Reporting Directive (NFRC), introducing mandatory external audits and shifting the focus from financial materiality to a dual materiality perspective that includes both financial and environmental/social impacts.

The implementation of the CSRD will significantly expand the number of entities required to report. The scope is expected to increase from approximately…