With the CSRD becoming mandatory in 2024 for listed companies and in 2025 for large organizations, early preparation is important. At RiskSphere we support companies to move from compliance to impact and to enhance their ESG performance aligned with the organisations larger business objectives.
ESG Strategy
The European Union has introduced a set of required Environmental, Social, and Governance reporting standards under the Corporate Sustainability Reporting Directive (CSRD). The standards represents key pillars of sustainable and responsible business practices and establish rules and guidelines to ensure companies operate ethically and sustainably.
The CSRD consists of required standards where companies are obliged to disclose information regarding their ESG performance. Internal and external stakeholders, such as, investors, employees, customers, regulators and more, should have a comprehensive view of a company’s ESG performance. The information provided must be accurate, timely and representative and enables stakeholders to compare companies performance over time.
But how do organisations know where to start? What should be their strategy and objective? It is critical that organisations know where they are and what to aim for.
How we help
Our support includes:
- Maturity framework: Evaluating where your organisation stands in terms of ESG risk management maturity.
- Gap-analysis: Gain a complete overview of your organizations ESG performance and identify gaps, understand where it is performing well and where to improve. The gap-analysis will highlight the initiatives and measures needed to close the gaps.
- Roadmapping: Developing a comprehensive action plan with clear milestones, resources, and dependencies to ensure timely delivery within budget and aligned with the organisation’s ESG ambitions.
Maturity framework
Dashboarding involves the collection, analysis, and presentation of data related to a company’s ESG performance. This data includes metrics such as carbon emissions, energy consumption, employee diversity, and executive compensation.
The framework has four maturity levels that define the key practices and characteristics required at each level of maturity of ESG risk management. Depending on the size, regulatory requirements and ambitions of the organisation, the ambition may be set at different levels of ESG risk management control. The framework includes aspects such as strategy, guidelines, benchmarks (peer-benchmarking), governance and tools to evaluate current ESG performance and define long-term ambition.
Below is an overview of the four maturity levels:
- Identifying: Understanding ESG principles and their relevance to your organization.
- Initiating: Beginning to implement foundational ESG measures and policies.
- Implementing: Integrating ESG initiatives across operations and processes.
- Integrating: Embedding ESG deeply into the organization’s strategy and culture.
Our maturity framework offers a structured approach to help organisations assess, prepare for, and integrate ESG considerations into their operations, strategies, and decision-making processes.
Gap-analysis
After having defined the current and target ESG maturity levels, a gap-analysis will be carried out while simultaneously comparing the organisations ESG performance to market competitors. These two correlated steps will inform where the company is doing well and where to improve and highlight the initiatives and measures needed to close the gaps and to meet regulatory requirements, stakeholder expectations, and sustainability goals.
Roadmapping
Implementation of ESG ambition into business model and strategy is essential. We support organizations to develop a comprehensive plan with clear milestones, resources, and dependencies to ensure timely delivery within budget and aligned with the organisations strategy. This approach allows the organisation to efficiently transit to the desired situation in a well-structured and transparent manner. Organisations meet compliance requirements and position themselves as leaders in sustainability and responsible business practices.
Let us do the heavy lifting
We’re happy to take the weight off your shoulders and implement ESG Strategy for you.
Get in touch