{"id":50740,"date":"2024-11-25T09:59:35","date_gmt":"2024-11-25T09:59:35","guid":{"rendered":"https:\/\/www.ecoonline.com\/eu-csrd-readiness-report-2\/"},"modified":"2025-04-01T09:55:08","modified_gmt":"2025-04-01T09:55:08","slug":"eu-csrd-readiness-report","status":"publish","type":"post","link":"https:\/\/www.ecoonline.com\/en-nz\/news\/eu-csrd-readiness-report\/","title":{"rendered":"63% of Mid-Market Organisations Struggle with Readiness"},"content":{"rendered":"\n
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Businesses committed to going beyond compliance to integrate sustainability into operations, increase budgets and drive performance improvement.<\/p>\n\n\n\n

LONDON, UNITED KINGDOM \u2013 November 12, 2024 \u2013 EcoOnline, a leading SaaS provider of safety and sustainability solutions, today launches its\u00a02024 EU CSRD Readiness Report<\/a>. The report explores how EU Corporate Sustainability Reporting Directive (CSRD) regulations\u00a0are perceived by mid-market and enterprise businesses, the challenges faced in implementation, and the processes and technologies employed to achieve goals.<\/p>\n\n\n\n

Mid-market companies at risk of being underprepared Although 100% of survey respondents have begun preparing for EU CSRD compliance, enterprise organisations (those with over \u20ac1B in annual revenue) are further along in their readiness than their mid-market peers. While 60% of enterprise organisations are \u2018almost ready\u2019 and have the right tools and solutions in place, only 37% of mid-market businesses said the same, and risk being \u2018left behind\u2019 as a result.<\/p>\n\n\n\n

Though mid-market businesses have slightly longer to prepare, these organisations need more support with scaling\u00a0EU CSRD<\/a>\u00a0efforts. Top areas\u00a0cited by mid-market respondents for further support were 1) data collection, 2) greenhouse gas (GHG) accounting, and 3) drafting EU CSRD report outputs, indicating a lack of confidence in tools and\u00a0processes.<\/p>\n\n\n\n

On the road to readiness\u00a0Over half of those surveyed are focusing on\u00a0double materiality assessments\u00a0as a vital compliance step to identify areas\u00a0for resource investment. However, EcoOnline\u2019s SVP ESG & Sustainability, David Picton comments: \u201cAs organisations navigate sustainability\u2019s dynamic landscape, it\u2019s encouraging to see them\u00a0focusing on double materiality, but these assessments alone are just the first step in fulfilling complex compliance needs. To meet the EU CSRD deadlines, companies need to act quickly to optimise\u00a0data collection and report drafting.\u201d<\/p>\n\n\n\n

Organisations are also tackling CSRD preparedness by:<\/p>\n\n\n\n