- Almost two-thirds of companies (63%) surveyed are very or extremely confident that they will be ready to report under the EU’s Corporate Sustainability Reporting Directive (CSRD)
- However, with the first wave of companies due to report from six months time, executives cite data availability and quality (59%), value chain complexity (57%) and staff capacity (50%) as obstacles to implementation to a large or very large extent
- Despite even higher levels of confidence for those companies due to report from six months time (72%), less than half of these companies have completed key activities, such as confirmation of reporting options (39%), double materiality assessment (38%), and validation of availability of data (20%)
- More than three-quarters (76%) believe CSRD is or will lead to company leadership considering sustainability in decision making to a greater extent
- Respondents believe CSRD will benefit their company to a large extent through environmental performance (51%), improved engagement with stakeholders (49%), and risk mitigation (48%)
LONDON, 13 June 2024 – Almost two-thirds (63%) of companies say they are very or extremely confident that they will be ready to report under the EU’s new Corporate Sustainability Reporting Directive (CSRD), according to PwC’s inaugural 2024 Global CSRD Survey, published today.
The global survey, of more than 500 senior executives and business professionals, including finance, sustainability and risk leaders, found that the EU directive, which will impact about 50,000 companies, is having a global impact.
More than three-quarters (79%) of companies headquartered outside the EU and 74% headquartered within the EU believe CSRD is or will lead to company leadership considering sustainability in decision making to a greater extent. Of respondents from companies headquartered in 38 countries and territories, 75% already plan to report at a consolidated group level, including operations outside the EU.
Preparing to report under the EU’s Corporate Sustainability Reporting Directive (CSRD) is leading companies to give more weight to sustainability in business decisions. Around three-quarters of companies preparing to file under the directive, including those headquartered outside the EU, say they are factoring sustainability into decision-making to a greater extent, or that they plan to do so.
While the survey results indicate confidence around sustainability reporting, survey respondents cite obstacles to implementation. The single biggest concern listed is data availability and quality (59%).
Only one-fifth of companies due to report in their 2025 financial year have validated the availability and completeness of data for their disclosures. Additionally, less than 60% of all respondents have involved their technology function, although most respondents plan to do so, and most companies are not using specialist tools or technology. Spreadsheets are the most commonly used tool (74%), compared with 26% using centralised sustainability data storage (e.g., a data lake) and 20% using AI, although more have plans to use these tools in the future.
Nadja Picard, Global Reporting Leader, PwC Germany, said: