London (ots/PRNewswire) – EcoOnline, a leading EHS, ESG and chemical safety software provider, announces its new CSRD rating function within the company’s ESG software solution, which helps organizations securely comply with the European Union Sustainability Reporting Directive (CSRD). The software simplifies the process of CSRD data collection and covers the topics and standards of the European Sustainability Reporting (ESRS) away. It enables companies to efficiently identify material risks, gain powerful data insights, and create audit-ready CSRD reports.
The reason for CSRD
Die EU CSRD is designed to improve environmental, social and governance (ESG) reporting standards and enable organizations to better understand their sustainability performance and the associated business impacts and risks. Increasing pressure from governments, investors, employees and customers to operate sustainably is forcing many organizations to introduce comprehensive reporting procedures. Even companies that are not currently required to comply with the CSRD find themselves required by external requirements to submit certain elements of the reports.
Meeting CSRD requirements
“EcoOnline’s ESG software not only provides a place for customers to collect their CSRD data, but makes it really easy to get the answers,” comments Bertrand Revenaz, VP Product, ESG & Data Intelligence at EcoOnline. “ Our CSRD reporting capabilities are unparalleled, combining a sophisticated calculation engine with comprehensive climate and scenario analysis to help companies identify and effectively manage material risks, ensuring our clients not only meet CSRD requirements, but “You can also gain valuable insights into your sustainability performance and make informed decisions on material ESG issues, ultimately leading to improved overall business results.”
EcoOnline’s CSRD assessment has the following innovative features to meet market needs and is supported by the expertise of in-house sustainability analysts:
- Powerful calculation engine: Automatic selection, conversion and calculation of greenhouse gas emissions (GHG) and CO2 equivalents to ensure accurate reporting in every framework.
- Physical climate risk analysis: Simplifies the process of identifying material risks and managing data across the enterprise, sites and supply chain to meet CSRD reporting requirements.
- Audit-proof workflows: Built-in QA workflows help CSRD creators ensure data quality and availability for external third-party review.
- Data collection: Provides a comprehensive question structure that covers all ESRS standards and facilitates data collection for preparing a CSRD disclosure.
- Scenario analysis: Improves materiality assessment by incorporating data-driven insights from our climate risk module, which provides insights into temporary, financial, and acute and chronic physical climate risks across different scenarios and timescales.
The power of ESG reporting
According to independent analyst firm Verdantix, “Institutions are seeking complex and diverse answers to ESG-related questions to determine sustainable investment preferences and exclusions. More accurate reporting is therefore crucial, not only to give asset managers better insight into company performance and risk exposure on certain metrics, but also to provide the company itself with information to understand how it has made improvements over time. In this way, the reporting process goes beyond a mere checkbox exercise to achieve goals and drive change in line with a company’s sustainability strategy.”1
EcoOnline’s ESG software offers extensive data-driven features, including access to over 4 million data points that can be queried simultaneously. Additionally, it provides reliable monitoring of millions of acres of land and tracks over 400,000 individual locations. The new CSRD assessment is a significant step forward in helping organizations meet their obligations Sustainability reporting while promoting responsible business practices and climate resilience.
EcoOnline has recently been free sustainability navigator tool published that guides companies through the requirements for meeting their reporting obligations, including whether they must comply with the CSRD.
Die CSRD Assessment is now available in English atadditional European languages are planned for later in the year.
Information about EcoOnline:
EcoOnline makes it easier for you to protect your employees and the planet. Promote employee safety and climate compliance with EcoOnline’s intuitive software solutions in chemical safety, sustainability reporting and all aspects of environment, health and safety (EHS), including learning and training.
With over 25 years of experience in 90 industries, more than 10,000 brands worldwide trust EcoOnline. If you want to have a significant impact on the safety and sustainability of your company, visit www.ecoonline.com
1 Verdantix, “Strategic Focus: CSRD And ESG Reporting Readiness,” Guy Lewis & Kim
Knickle, February 23, 2024
Questions & Contact:
Contact:
Alyssa Fishwick, Senior Director of PR:Alyssa.fishwick@ecoonline.com
View original content:https://www.prnewswire.com/news-releases/ecoonline-ührt-mehrlose-csrd-vergleichsfunktionalitat-ein-302172394.html