Boundless Creativity Within the Planetary Boundaries, our mission is to partner-up with industries so that they can successfully operate within the planetary boundaries
Acting as an architect, we bring expertise and/or the right partners to be able to support you with every step on this adventurous journey
Whether you know where to go, need support on where to start or focus, we can help you turn scientific analysis and figures into concrete actions
Working with industrials to make the industry less carbon emissive, waste polluting and more resource efficient
We are also working with other industrial goods and services companies
Understanding and addressing multiple interlinked impacts so that your industry can operate within the planetary boundaries
We are proud to be supporting leading industries while they are reducing their environmental footprint and improving their impact in their respective ecosystem(s)
Delve into our collection of press releases and other publications, featuring some of our collaborative work for insightful studies and sustainability reports
Find our latest expert analysis on environmental news and regulations as well as global developments from collaborative work with partners.
Stay informed about upcoming events where we are participating, or catch up on the past events we attended and what happened there.
What an amazing series of regulations from the EU in these very last weeks: ensuring that there’re no carbon leaks (CBAM), requesting clear proofs against deforestation, implementing the first Product Passport (Battery Act) and last but not least compulsory the Corporate Sustainability Reporting Directive (CSRD) pushing for more transparency and harmonised disclosure requirements.
On 16 Dec. 2022, “the Directive (EU) 2022/2464 of the European Parliament and of the Council of 14 December 2022 amending Regulation (EU) No 537/2014, Directive 2004/109/EC, Directive 2006/43/EC and Directive 2013/34/EU, as regards corporate sustainability reporting” has been published in the Official Journal of the EU.
As part of the European Union’s Sustainable Finance Package, which aims to enhance the flow of money towards sustainable activities, the Corporate Sustainability Reporting Directive (CSRD) makes it mandatory for many companies to disclose sustainability information in their financial reports.
By enlarging the scope of reporting companies, introducing double materiality, new common standards and including scope 3, CSRD creates a common reporting framework that improves the content and quality of sustainability information in the EU.
The Directive will apply progressively between 2025 and 2029.
The Directive widens the scope of the Non-Financial Reporting Directive (NFRD) adopted in 2014, that only applies to large listed companies, banks and insurance companies with more than 500 employees, i.e. approximatively 11,600 companies in EU in 2021.
The CSRD applies to:
The CSRD won’t apply to:
The excluded firms can and are encouraged however use the developed standards voluntarily. At eolos, we do work with companies aligning to these standards although they are not requested to. This is a great journey to mobilise the teams and trigger improvements.
Double Materiality
Companies will have to report on how sustainability issues affect their business and development (“outside-in” perspective) and on the impact their activities have on people and the environment (“inside-out” perspective)
Standardisation
CSRD creates a common reporting framework that improves the content and quality of sustainability information: the European sustainability reporting standards (ESRS).
These standards have been developed by the European Financial Reporting Advisory Group, (EFRAG), that delivered 12 drafts to the EU Commission at the end of November:
The EU Commission will adopt the first standards by June 2023.
ESG Indicators
Companies will be required to track and share their social and environmental impacts, as well as their governance practices. They will have to report on what they have put in place to contribute to the ecological transition with metrics.
Standards and digital format
The reports will have to respect precise standards, including in digital format, to facilitate the use and sharing of the information.
Audit
The reports will have to be audited and certified by an independent structure, which will verify the sincerity of the information and the presence of sustainability objectives.
Penalties
Penalties for infringements are not yet specified but will be defined by each Member State. However, the EU Commission indicated that they must be effective, proportionate and dissuasive.
Next steps
The new rules will need to be implemented by member states in the following 18 months and the CSRD will become a reality starting from 2025.
An application in 4 stages
The directive will come into force in 2025 and its application will take place in 4 stages:
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eolos Contributors:
Baptiste Grüss | Environmental Policies & Regulations Expert
Helene Isermeyer | Sustainability Governance & Performance Practice Lead
Hager Group, advised by eolos, is working towards manufacturing eco-responsibility. By involving plant energy managers and implementing improvements, they reduced CO2 emissions by 1% in Q3 2022, eliminated 200 tons of non-recycled plastic packaging, and aim for 100% sustainable packaging by 2024.
Hager Group, advised by eolos, is working towards manufacturing eco-responsibility. By involving plant energy managers and implementing improvements, they reduced CO2 emissions by 1% in Q3 2022, eliminated 200 tons of non-recycled plastic packaging, and aim for 100% sustainable packaging by 2024.
The IPCC report underscores rising greenhouse gas emissions, mainly from industry. Declining low-emission technology costs and increased usage aid mitigation of climate change. Decarbonization, sustainable options, international cooperation, and policy implementation are vital for a net-zero industry and climate resilience.
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