PwC’s 2024 Global Corporate Sustainability Reporting Directive (CSRD) Survey shows that despite tight timelines and a lot of complexity around the topic, companies expect CSRD reporting to bring about tangible benefits. Here are the key findings:
1. About a third of survey participants (38%) expect CSRD implementation to lead directly to revenue growth, while a similar cohort (34%) expect to benefit from cost savings as a result of this initiative. Notably, companies further along in their implementation journey are more optimistic about the business advantages across all dimensions.
2. Participants from the Financial Services sector are particularly optimistic about the potential for CSRD compliance to drive revenue growth, with expectations slightly above the overall average across industries.
3. While respondents to our survey express a high degree of confidence, a number of issues persist, including low completion rates for early-stage activities, lack of senior stakeholder involvement and low rates of technology adoption to support ongoing reporting. In fact:
a. Only 35% of respondents have confirmed reporting obligations and potential exemptions;
b. Only 33% of respondents have completed a double materiality assessment;
c. Only 30% of respondents have carried out a EU taxonomy analysis;
d. Only 29% of respondents have completed a disclosure gap analysis.
4. At the same time, companies say they are facing multiple challenges to implementation, including data availability, staff capacity and the need for new technology investments.
5. While respondents feel confident about meeting requirements on well-established topics like workforce, business conduct, and climate change, many are less prepared for newer areas such as workers in the value chain, biodiversity, affected communities, resource use and circular economy, pollution, and water resources.
6. Survey respondents report that on average 8 business functions are currently involved or will be involved in implementing CSRD, including Sustainability, Finance, Operations, Procurement, Technology and Legal. Here chief financial officers (CFOs) and chief information officers (CIOs) play central roles in supporting chief sustainability officers (CSOs) who in many cases have been leading sustainability reporting efforts.
7. Approximately three-quarters of firms are integrating sustainability into their decision-making processes or plan to do so. This shift is expected to bring multiple business benefits, such as improved environmental performance, better stakeholder engagement, and risk mitigation.
About the survey
In April and May 2024, PwC conducted a survey with 547 executives and senior professionals from over 30 countries and territories. Approximately one-third of participants hold C-suite positions, with the rest being senior professionals across business functions from areas such as sustainability, finance, and risk. Sixty percent of companies represented are headquartered within the European Union, and over half report annual revenues exceeding US$1 billion. The survey covers a range of sectors, including manufacturing (25%), financial services (21%), technology, media and telecommunications (18%), consumer and retail (14%), energy, utilities and resources (13%), and healthcare (7%). Among all respondents, 57% indicated they would report under the CSRD for the first time in the 2025 financial year, using data from FY2024.
How can we help?
Beyond supporting your existing or planned sustainability initiatives, our teams can assist your organisation in meeting CSRD reporting and strategic requirements. This could include support with undertaking a double materiality assessment, carbon footprint assessments, scope 3 screening analysis, EU taxonomy preparation and broader ESG training. Should you wish to explore these opportunities and develop a comprehensive approach to CSRD, please reach out to our dedicated teams.
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