7 Key Drivers for Corporate Transformation in the Era of CSRD and SECR 

Author: Sarah Shannon
Date:  January 16, 2024

Are you Embracing Change Beyond Compliance? 

In today's fast-paced business world, companies are increasingly recognising the importance of adapting and evolving to satisfy sustainability regulations alongside satisfying employee, customer and investor demands. Let’s be honest it is the regulatory drivers like SECR and CSRD that are the key to making most Boards take notice and take action.  

This blog explores the seven key drivers that are driving businesses to undertake urgent corporate transformation.

1. Global Influence: 

In light of growing environmental crises, big companies are rethinking and adjusting their ways to lessen their impact on the environment. They're leading the charge for positive change worldwide. But for many of these organizations, especially in financial services, going green isn't just a choice anymore.

With CSRD/SECR regulations, it's quickly becoming a legal must to report accurately. This pushes companies to not just talk about their emissions but to really work on cutting them down. They're now turning their attention to their supply chain to get a grip on their Scope 3 emissions.

2. Consumer Expectations: 

Nowadays, consumers want brands to be open and responsible. Companies that go green and share their carbon use and reduction plans will not find CSRD and SECR daunting. They know they can really win over customers' trust and loyalty – plus, they'll be following the rules (that are only going to get tougher)! 

3. Investor Pressure:  

Investors are paying more attention to how companies handle environmental, social, and governance (ESG) issues. Companies that get ahead in these areas, like those required by SECR, tend to draw in and keep investors who think about the future. 

4. Align CSRD and ESG to gain Competitive Advantage: 

By following CSRD and SECR rules, companies can boost their overall ESG impact, showing they care about being open and responsible, which helps them shine in the market.   

5. Risk Management:  

Understanding and mitigating environmental risks is crucial for long-term sustainability. SECR compliance helps companies identify and address these risks, thereby safeguarding their future.  

6. Operational Efficiencies: 

Collecting data and insights internally and across the value chain to satisfy CSRD and SECR regulation leads to discovering effective operational methods. Resulting in smarter and cheaper ways to work. Saving energy and further cutting down waste is good for the planet. 

7. Future-Proofing against tighter regulation: 

Staying on top of environmental reporting and sustainability now is smart because it prepares companies for stricter regulations. Getting into data gathering and compliance reporting is a proactive move, helping businesses stay ahead in a world must become increasingly focused on carbon emission reduction across the supply chain.  

Ultimately carbon reduction is a major focus, driven by regulatory initiatives like CSRD and SECR. These aren't just rules to follow; think of them as part of a bigger push to make carbon reduction and social responsibility core elements of business operations.   It's about changing decision-making and operations to benefit the planet and society, which is also good for business. 

Contact us about our Managed Service to help with CSRD and SECR reporting

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