Antaris Consulting
Aurora Leyton Ciara Egan
What exactly is the Corporate Sustainability Reporting Directive, and why is it important?
This directive sets out to ensure accurate and transparent reporting on sustainability activities to direct capital investments to organisations that are legitimate in their sustainability claims. The CSRD requires organisations to report on their sustainability activities as rigorously as they report on their finances, as well as demonstrating how the two areas are linked.
In practice, this means that exaggerated or false claims of sustainability-related performance (i.e. greenwashing) will be exposed and organisations will be expected to provide evidence of their claims.
The reporting paradigm for sustainability is shifting from voluntary standards with limited disclosure to mandatory European Sustainability Reporting Standards under the CSRD, and this will be subject to statutory audit. This change will impact every aspect of your value chain, from suppliers to customers. Companies now need to consider the financial, environmental, and social impacts of their organisation on people and the environment, as well as the reverse, meaning how these factors impact their organisation’s performance. This concept is known as ‘Double Materiality’ and it requires companies to assess both the negative and positive issues that are material to their organisation.
Who is required to report under CSRD?
If you or your parent organisation are operating in the EU and meet at least two of the following criteria, you are required to report:
■ More than 250 employees.
■ Over €40 million revenue.
■ Over €20 million balance sheet.
This means that in 2025 you will have to report on your sustainability activities from the 2024 financial year, demonstrate how they are tied to your finances, and how they are mapped across your value chain. This also applies to companies that are already required to report under the
Non-Financial Reporting Directive (NFRD). For those not required to report under NFRD, you have until 2026 before you must start reporting. SMEs will have different reporting parameters and have until 2027 to prepare for reporting.
Creating Opportunities
New regulations can be disruptive and difficult to prepare for, like any process change, but seeing the CSRD as just compliance is a missed opportunity. Preparing for the CSRD opens doors for sustainability managers and employees to drive the sustainability agenda internally and externally. The actions required to get ready for reporting under this Directive will enable organisations to identify risks and opportunities, set out a strategy and action plan, and a clear roadmap of activities to ensure your business is futureproof as we transition to a more sustainable economy. The CSRD requires board level engagement, embedding sustainability in the decision-making process while also holding leadership accountable. Figuring out where to start may seem daunting, but Antaris can help regardless of where you are on your sustainability journey.
Antaris Consulting
Founded in 1994, Antaris is one of Ireland’s leading environmental and sustainability consultancy service providers. Our approach is underpinned by understanding how new technologies, market preferences, and regulatory standards impact business models to enable a more
An estimated 40% of Irish companies are unsure if they fall under the scope of the EU’s Corporate Sustainability Reporting Directive (CSRD), write and of Antaris Consulting. This upcoming regulation is a catalyst for change and Antaris Consulting can help you prepare for it.
sustainable and resilient future.
Developing a sustainability strategy that is aligned with your corporate strategy is the first way Antaris can support your organisation. Our process includes undertaking a double materiality assessment and a stakeholder engagement exercise (both of which are requirements under CSRD), bringing you a step ahead in your reporting requirements. Our knowledge of management systems such as ISO 14001 (Environment), ISO 45001 (Health and Safety) and ISO 50001 (Energy) allows us to integrate the policies and procedures already in place in your organisation with the new requirements of EU and national regulations.
We can also help you assess whether your activity is aligned with the EU Taxonomy, including the required climate risk and vulnerability assessment. Antaris also recognises our place in the wider social and environmental context and align our activities and client activities with the UN Sustainable Development Goals.
Leading By Example
Antaris is at the forefront of climate action in Ireland. We practise what we preach and have committed to reducing our absolute scope 1 and scope 2 GHG emissions by 50% by 2030 from a 2019 base year, and to measure and reduce our scope 3 emissions. Antaris has backed up this commitment by becoming a signatory to the Science-Based Targets initiative (SBTi), a collaboration between the Climate Disclosure Project, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
The SBTi has assessed and approved our greenhouse gas emission targets as aligned with a 1.5°C scenario under the 2015 Paris Climate Agreement. By doing so, Antaris has joined the growing group of leading companies that are setting emissions reduction targets in line with what climate science says is necessary. Moreover, we are a member of 1% for the Planet, donating 1% of our annual gross revenue (sales, not profit) to grassroots environmental organisations dedicated to protecting our planet. Members recognise their responsibility to, and dependence on, a healthy environment and donate at least 1% of their total annual sales to environmental organisations worldwide.
Our Credibility
We recognise that climate, sustainability, and loss of biodiversity are threats to our planet and to our businesses. Addressing these risks is key to business survival. Antaris offers bespoke advice on how to identify and address the climate, sustainability and loss of biodiversity threats facing your business, and we can help you to identify the necessary actions to address and mitigate these threats. At Antaris we have been increasing our offer of sustainability services to aid our clients in improving their sustainability
performance, not just to comply with legislation but to be active participants in the fight against the climate and biodiversity crisis.
We work with both the private and public sector, in projects big and small. Recently, we worked with the Department of the Environment, Climate and Communication, chairing, and facilitating the National Stakeholder Forums for the Sustainable Development Goals, as well as facilitating the Department of Transport’s Sustainable Mobility Forum.
Consultancy is not the only thing we do. Antaris also offer training courses to upskill employees and build their capacity to deliver on the actions and targets in your sustainability action plan. Many of our sustainability training courses are certified by the Institute of Environmental Management and Assessment (IEMA).
Antaris is registered on Enterprise Ireland’s Green Service Providers Directory, meaning you can access our services though their grants such as the Climate Action Voucher, GreenStart, and GreenPlus. We can also help you through the LEO Green for Micro programme and LEO Energy Efficiency grant, SEAI’s Support Scheme for Energy Audits and IDA supports. These grants offer financial support to create a sustainability strategy and action plan, calculate emissions, train employees and much more.
If you need support, please get in touch at info@antarisconsulting.com or visit antarisconsulting.com