Business Plus

Antaris Consulting

- Antaris, sustainabi­lity leaders by your side

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@antariscon­ or visit antariscon­

 ?? ?? CSRD requires organisati­ons to report on their sustainabi­lity activities as rigorously as they report on their finances
CSRD requires organisati­ons to report on their sustainabi­lity activities as rigorously as they report on their finances
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 ?? ?? Antaris COO Eugene Cush with colleagues Aurora Leyton (left) and Monika Gade
Antaris COO Eugene Cush with colleagues Aurora Leyton (left) and Monika Gade

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