The new EU regulation CSRD (Corporate Sustainability Reporting Directive) comes into effect from budget year 2024, introducing new requirements for companies’ sustainability reporting, which will also be part of the financial report. The directive not only requires the responsibility to report but also specifies how sustainability efforts should be conducted. This involves not just reporting indicators and data but also outlining strategies, goals, and processes.
Corporate energy usage is a significant part of the new requirements for sustainability reporting under CSRD. This is where SenseNode can assist you in enabling your work and creating the right conditions for future strategies and savings related to energy usage.
Understand your energy usage with SenseNode’s solution
With SenseNode’s solution, you can proactively work towards your goals related to energy usage. By collecting detailed and traceable energy data, you can visualize energy consumption, gain an overview of your overall environmental impact across the entire business, address deviations, improve processes, and continuously monitor your goals. Our Energy Analytics platform allows you to easily export the necessary data to comply with CSRD requirements in desired format for your overarching sustainability system.
Monitor
Monitor your goals and report energy usage with suggested actions.
CO2 equivalent
Take control over the overall environmental impact, measuring your CO2 impact per produced unit.
Goals and strategies
Create sustainable and long-term goals and strategies with the help of detailed energy data.
Q&A regarding CSRD
What is CSRD?
The CSRD (Corporate Sustainability Reporting Directive) is EU’s legislation that require large companies and listed companies to publish regular reports on the social and environmental risks they face, and on how their activities impact people and the environment.
What is ESRS?
The European Sustainability Reporting Standards (ESRS) are standards that define the rules of the Corporate Sustainability Reporting Directive (CSRD).
ESRS is divided into three overall categories: Environmental, Social and Governance. Each category must be reported based on corporate governance, strategy, impact, risks and opportunities, measurement points and goals.
Which companies are concerned?
All large companies meeting at least two out three criteria:
> 250 employees and/or
> €40M turnover and/or
> €20M total assets.
Listed companies: SMEs that are listed on EU regulated markets (European and non-European). The requirements for small and medium-sized companies are expected to be somewhat less strict than for large companies.
When will reporting be required?
The implementation will take place in four steps.
Step 1: In 2025, companies already covered by the Non-Financial Reporting Directive must report for the 2024 financial year.
Step 2: By 2026, large companies not currently covered by the Non-Financial Reporting Directive will report for the 2025 financial year.
Step 3: In 2027, listed SMEs (not micro-enterprises), small and non-complex credit institutions and captive insurance companies must report on the 2026 financial year.
Step 4: In 2029, non-European companies with a net turnover of over EUR 150 million within the EU and with at least one subsidiary or branch in the EU exceeding certain thresholds must report for the 2028 financial year.