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Sustainability software and services provider, Good.Lab has announced a new solution to help mid-market companies comply with the EU’s Corporate Sustainability Reporting Directive (CSRD).
Good.Lab’s new solutions streamline the CSRD compliance process, from gauging climate reporting readiness to double materiality analysis to collecting and calculating required metrics to produce fully auditable CSRD-compliant reports.
The CSRD aims to standardize non-financial reporting by companies and enhance the consistency and quality of publicly available sustainability data. This directive will impact over 60,000 companies globally, including 3,000 in the U.S., starting on January 1, 2025.
Good.Lab’s CSRD solution will ensure companies can identify, measure, report, and audit material sustainability data in line with the European Sustainability Reporting Standards (ESRS).
Key features include:
- Climate Risk Readiness: Enabling companies to gauge preparedness for reporting to CSRD and obtain guidance on ensuring compliance.
- Double Materiality Assessment: Leverages both financial and impact materiality to aid companies in understanding the material topics required to report on for the CSRD.
- GHG (Greenhouse Gas) Emissions Calculation: Accurately measures material emissions across Scopes 1, 2, and 3 with audit-trails for all data analyses.
- Audit Ready Reports: Good.Lab’s consultants calculate all required material metrics and format it into a CSRD-compliance report.
According to Liam Bossi, Co-founder & Chief Product Officer at Good.Lab, “CSRD presents a significant compliance challenge for mid-market companies. Our solution simplifies the entire process—from readiness assessment and data collection to reporting and auditing, enabling companies to seamlessly navigate each step of CSRD compliance.”
Related Article: Dutch Companies Lead in CSRD Implementation Confidence with 79% Readiness, PwC Survey Reveals
Good.Lab’s CEO and Co-Founder, Andries Verschelden added, “Sustainability has moved beyond being a mere trend; it is now crucial for securing the longevity and resilience of business models. At Good.Lab, we equip our customers with robust solutions to achieve their sustainability objectives and ensure they fully comply with reporting requirements for regulations like the CSRD.”