CSR and CSRD

ACFIN PARTNERS is at the forefront of assisting companies through the complexity of sustainability reporting and CSR requirements.

Impact of the CSRD and Corporate Obligations

Companies in Europe are significantly impacted by the Corporate Sustainability Reporting Directive (CSRD), a major regulatory development in sustainability reporting. The CSRD is a means for the European Union to establish a more robust and transparent framework for the communication of sustainability information.

Expansion of the scope of affected companies
Strengthened reporting standards
Principle of double materiality
Implications for various sectors and sizes of companies
Long-term consequences

In conclusion, the CSRD represents a significant shift towards greater sustainability responsibility for companies. Businesses must prepare to adopt more transparent and accountable approaches that meet regulatory requirements and contribute to a sustainable and socially responsible business strategy.

In today’s business world, where sustainability, ethics, and transparency are major issues, integrating CSR into a company’s overall strategy is no longer an option, but a necessity.

Benefits of Integrating CSR:

Implementing a corporate social responsibility (CSR) strategy offers numerous concrete benefits for businesses, which go far beyond mere compliance with regulations.

Reputation Enhancement: A strong CSR policy can significantly improve your company’s reputation in a market where consumers and investors are increasingly aware of social and environmental issues. By strengthening trust among customers, investors, and other stakeholders, it demonstrates your commitment to ethical and sustainable practices.
Attraction and Retention of Talent: A company culture focused on CSR attracts employees who share similar values. This can increase talent retention, job satisfaction, and productivity.
Access to New Markets and Financing: Companies engaged in CSR are often better positioned to access new markets, particularly those that value sustainability. Additionally, it is increasingly common for investors and financial institutions to opt for responsible businesses, offering opportunities for sustainable financing and investment.
Regulatory Compliance: Proactive integration of CSR in your business can facilitate compliance with sustainability and ethics regulations due to the constant evolution of these regulations. This reduces the risk of penalties and ensures compliance with the law.
Innovation and Competitiveness: Companies are often led to innovate in their processes and products by integrating CSR. This can lead to increased efficiency, cost reduction, and a product or service offering that meets the changing expectations of consumers regarding sustainability.
Stakeholder Engagement and Relationships: Relationships with stakeholders, including suppliers, customers, and the local community, can be improved through a solid CSR approach. This can lead to better collaboration, sustainable partnerships, and a positive community image.

In summary, integrating CSR into a company’s strategy is a strategy that brings considerable benefits economically, socially, and environmentally, while positioning the company as a responsible and visionary player in its sector.

ACFIN PARTNERS: your CSR and CSRD partner for a transparent and responsible transition to sustainability.

Would you like to meet us?

Do not hesitate to contact us if you want to learn more about our CSR and CSRD support services or if you have specific questions about your company. Our team is ready to discuss your needs and help you find a suitable solution.

CSR Support Services

CSR Maturity Diagnosis: Evaluation of the company’s current CSR practices and identification of areas for improvement.

At ACFIN PARTNERS, our CSR maturity diagnostic service allows companies to obtain an in-depth evaluation of their current social responsibility practices. This diagnosis is a crucial step to define an effective CSR strategy aligned with the company’s objectives and to identify areas for improvement.

Any company seeking to integrate CSR into its overall strategy and to prepare to meet the requirements of the CSRD must undergo this crucial diagnosis. The goal of ACFIN PARTNERS is to provide you with the resources and knowledge necessary to make CSR a lever for sustainable and responsible growth.

Development of CSR Strategies and Action Plans: Assistance in integrating CSR into the company’s overall strategy, setting clear objectives, and developing action plans.

To succeed in today’s business world, a company must effectively incorporate corporate social responsibility (CSR) into its overall strategy. Our service for developing CSR strategies and action plans will help you define clear CSR objectives and develop concrete plans to achieve them.

Development of the CSR strategy
Creation of action plans
Monitoring and evaluation

ACFIN PARTNERS supports you in the development of CSR strategies and action plans aimed at turning CSR commitments into tangible and impactful actions, aligned with your company’s overall vision. Our goal is to guide you towards sustainable performance that benefits both your business and society.

Assistance with CSRD Compliance: Assistance in aligning with CSRD requirements, including sustainability reporting and auditing standards.

Companies seeking to enhance their transparency and accountability in sustainability must align with the requirements of the Corporate Sustainability Reporting Directive (CSRD). We help you navigate this compliance process by assisting you in understanding and implementing the sustainability reporting standards required by the CSRD.

Understanding CSRD Requirements
Development and implementation of sustainability reporting
Preparation for auditing standards
Action plan for ongoing compliance

By minimizing disruptions to your everyday operations while maximizing the benefits of a sustainable and responsible reporting approach, ACFIN PARTNERS’ goal is to ensure a smooth transition to compliance with the CSRD.

Useful Links and Additional Resources

To support your CSR and CSRD journey, ACFIN PARTNERS encourages you to explore these resources:

AMF:

European Commission:

Directive (EU) 2022/2464 of December 14, 2022 (CSRD directive), published in the Official Journal of the EU on December 16, 2022, applicable from January 1, 2024

EFRAG:

Draft sustainability reporting standards (ESRS) – EFRAG technical advice, published November 23, 2022

These resources are designed to effectively guide you on your CSR and CSRD journey.

Frequently Asked Questions

What is CSR?

CSR, or Corporate Social Responsibility, refers to the practices that companies implement to adhere to the principles of sustainable development by incorporating social, environmental, and economic concerns into their daily operations.

What does CSRD entail?

The Corporate Sustainability Reporting Directive (CSRD) is a European Union directive that requires companies to provide detailed reports on their environmental, social, and governance impacts.

Which companies are affected by the CSRD? 

The CSRD applies to all large companies, including listed SMEs, according to specific criteria based on the size and nature of the business.

Why is it important to integrate CSR into my business strategy?

Integrating CSR can enhance your company’s reputation, attract talent and investment, and prepare you for future sustainability regulations.

How can I implement CSR in my company?

Implementing CSR begins with an assessment of your current practices, followed by the development of a strategy and action plan to integrate CSR principles into your operations.

What are the benefits of complying with the CSRD?

Complying with the CSRD makes your company more transparent and credible to investors and consumers while ensuring more sustainable management of your activities.

What are the impacts of the CSRD and the obligations for companies?

Wider scope of affected companies: Compared to previous directives, the CSRD applies to a larger number of companies. This now includes not only listed companies but also non-listed companies, listed SMEs, and sometimes subsidiaries of non-European companies. This means that a broader variety of companies must now prepare and present sustainability reports.
Strengthened reporting standards: The CSRD introduces more detailed and organized reporting requirements. Companies must follow the European Sustainability Reporting Standards (ESRS) to report on a variety of sustainability-related topics, such as Environmental, Social, and Governance (ESG) impacts.
Double materiality principle: The double materiality principle, which requires companies to report on the impact of their activities on society and the environment, as well as the impact of environmental and social issues on their performance and development, is a key element of the CSRD.
Implications for different sectors and company sizes: While the CSRD is particularly important for large companies, it also impacts small and medium-sized enterprises, especially those that are suppliers or partners of large companies. Depending on their activities, companies in various sectors may need to adjust their practices to meet specific reporting requirements.
Long-term consequences: Companies will need to include sustainability in their overall strategy to comply with the CSRD. This may require adjustments in governance, operations, and communication with stakeholders.

How does an RSE maturity assessment work?

Evaluation process: Our approach begins with an in-depth analysis of your current CSR practices. This includes reviewing your policies, operational processes, stakeholder engagement, and compliance with relevant standards and regulations.

Identification of key areas:

Environment: Analyze the company’s environmental impact and the management methods used.
Social and Community: Examine policies and measures related to human resource management, work ethics, and community engagement.
Governance: Assess how CSR principles are integrated into the company’s governance.
Stakeholder Relations: Evaluate the company’s communication and interactions with customers, suppliers, and other key partners.

Detailed report and recommendations: We will provide a detailed report after our assessment, highlighting the strengths and weaknesses of your current CSR practices. Taking into account your industry, size, and specific objectives, this report will include tailored recommendations to improve your company’s CSR maturity.

How is a CSR strategy developed?

CSR Strategy Development:

Analysis of company objectives: We start by understanding your overall business goals and how they can align with CSR principles.
Identification of CSR priorities: We identify the most important social and environmental responsibility areas for your company based on the CSR maturity assessment.
Integration of CSR into business strategy: Ensuring alignment with your business goals and company values, we help you integrate CSR objectives into your overall strategic planning.

Action plan development:

Setting specific and measurable goals: We collaborate with you to establish clear, achievable, and quantifiable CSR goals.
Practical action plans: We create detailed action plans that include specific initiatives, projects, and programs to achieve these goals.
Timeframe and required resources: Each action plan includes a realistic timeline and a list of resources needed for implementation.

Monitoring and evaluation:

Implementation of monitoring mechanisms: We set up monitoring and reporting mechanisms to ensure the success of the action plans.
Continuous evaluation and adjustment: We offer regular evaluations to measure progress and adjust action plans as needed.

What support can I receive for CSRD compliance?

Understanding CSRD Requirements:

Regulatory Monitoring: ACFIN PARTNERS closely monitors developments in regulations and standards related to the CSRD to provide you with up-to-date and relevant information.

Development and implementation of sustainability reporting:

Technical assistance: We help you set up systems and procedures to collect, analyze, and report sustainability data in accordance with CSRD standards.
Sustainability report preparation: Our team collaborates with you to draft sustainability reports that reflect your company’s environmental and social performance and meet CSRD requirements.

Preparation for verification standards:

Internal audit: To assess the compliance of your current practices with CSRD standards and identify areas for improvement, we offer internal audits.
Preparation for external verification: We help you understand the expectations of auditors and navigate the verification process by preparing you for external audits.

Action plan for continuous compliance:

Recommendations and action plan: Based on our assessment, we create a customized action plan to meet CSRD requirements and sustainably integrate sustainability reporting practices into your operations.