The Role of Technology in the CSRD Journey

The Corporate Sustainability Reporting Directive (CSRD) is pushing companies to be more transparent about their environmental, social, and governance (ESG) impacts. But with the growing complexity of reporting requirements, businesses are finding it challenging to keep up. This is where technology plays a vital role.

Impaakt, a leader in impact materiality assessments and stakeholder engagement has developed a SaaS solution that simplifies the entire CSRD journey. The platform is more than just a tool—it’s a comprehensive approach that combines detailed business analysis, stakeholder engagement, and rigorous data checks to ensure companies can navigate the complexities of CSRD compliance with confidence.

Data is at the heart of CSRD compliance, but it’s only valuable if it’s presented in a way that makes sense. Impaakt’s platform allows for companies to upload or input sustainability data points and excels in transforming this raw data into concise, contextualized summaries. This provides clear insights into how each sustainability issue affects the business and its stakeholders. For companies like Company X, these summaries offer a straightforward way to understand complex sustainability challenges and make informed decisions.

This approach also helps in communicating these issues to a wider audience, including internal teams, investors, and the public, engaging them to piece together the heart of the CSRD, the double materiality assessment (DMA).

Once the impact assessment by stakeholders is complete, Impaakt supports the company’s internal teams in conducting a financial materiality assessment on their platform.

Moreover, the platform includes data consistency checks, which help identify and remove any outliers or inconsistencies in the assessments. This rigorous approach ensures that the final outputs are reliable and can guide the company’s ongoing sustainability efforts with confidence.

After completing the DMA, Impaakt’s platform generates a range of valuable outputs that are essential for ongoing CSRD compliance. For example, the Corporate-Level Double Materiality Map provides a visual overview of the most significant issues, helping companies like Company X understand where their biggest risks and opportunities lie.

Additionally, Impaakt helps establish materiality thresholds and reporting requirements, ensuring that companies not only meet regulatory standards but also set a high bar for industry best practices.