CSRD-ready

We apply a sustainability framework that best suits your organization, such as the SDG or ESG framework with the European Sustainability Reporting Standards (ESRS) themes. Regardless of which framework you choose, we always translate it into the relevant ESRS themes so that you are optimally prepared. Whether you are looking for help for part of the process or the full process, we will guide you from materiality analysis to developing a robust sustainability strategy and report. Then PHI Factory helps you further in translating it into practice.

This ensures that your reporting not only complies with legislation, but also actually adds value to your organization and stakeholders. Take the step towards a sustainable future together!

Who is the team?

PHI Factory organizes a kick-off to assemble a project team with representatives from finance, strategy, procurement, communications, operations and sustainability, among others. If possible, an accountant is involved early on. The team collects data for reporting and develops sustainability policies, with PHI Factory as the driving force.

In what environment does the organization operate?

There are four mandatory ESRS themes and eight analysis-dependent themes. In this phase, we explore the sector with the organization and identify the key stakeholders. PHI Factory determines the preliminary minimum required ESRS-related (sub)themes in consultation with the organization. We analyze the stakeholder landscape, review internal and external documents and estimate the impact of the themes. We do this in part by analyzing policies and media for ESRS-related keywords.

Who do we influence and who influences us?

The drafted shortlist of themes is tested by the project team with key stakeholders (internal and external, such as: employees, customers, suppliers, financers, the immediate environment of the company, etc.). PHI Factory organizes a brainstorming session with the core team to identify key stakeholders and elaborates this in an overview. We then conduct stakeholder interviews, with the results leading to a prioritization of themes based on both stakeholder and organizational perspectives.

What is our impact and influence?

Double materiality includes financial materiality (the impact of external changes on your business) and impact materiality (the impact of your business on people and the environment, including the value chain). In co-creation with the project team, based on the chosen themes, we analyze the risks and opportunities and the themes with double materiality. We incorporate this into a materiality matrix, resulting in an organization-specific elaboration of the material ESRS themes.

What are we still missing?

In collaboration with the project group, we inventory the existing policies, systems, targets, KPIs and data related to material ESRS themes within the organization, in line with CSRD obligations. In addition, we identify the missing data points of material ESRS theme and formulate a strategy to complete them.

What is the strategy to get there?

Based on the results from the GAP analysis, we address shortcomings and strengthen the important themes from the materiality analysis. Together with the project group, we draft a complete policy with concretely formulated goals, a clear approach and elaborated strategies to achieve these goals.

First draft!

The previous steps show which topics need to be reported on. In this step, we determine how this information will be presented. Here we ensure that for each material theme we meet the requirements of the reporting standard. We identify the required indicators (KPIs), report on the results achieved, formulate clear objectives and explain how they are interrelated.

Where can I find my data?

We further arrange the necessary data collection, focusing on gaining insight into where the available data can be found and how the missing data can be collected. Together we determine who is responsible for the delivery and how this process is managed. In addition, we ensure that the necessary quality controls are put in place so that the information can be considered reliable and usable.

It is correct? 

The information in the sustainability report must be reliable, comparable and verifiable. Leading up to the report, the project team engages an auditor to conduct the audit. Together, we ask the right questions: Is the information complete? Is it auditable? And are improvements needed? In doing so, we ensure the quality of the reporting.

Check!

Now it's time to report. All the information gathered is compiled into a CSRD-ready report. This report is then finally audited by the auditor. The report is thus the result of an annual process.

Together, we look at which steps apply to your organization and so our approach is always customized. This way we respond to your specific needs. Together we ensure that you comply with the CSRD and take the next steps to make you future-proof. We not only support you in reporting, but also help you put this into practice. Our teams and vast experience are ready for you!