The EU's Corporate Sustainability Reporting Directive (CSRD), which came into force at the beginning of 2023, aims to implement ESG (Environmental, Social, and Governance) as an elementary component of annual corporate reporting. For the Life Sciences industry, the implementation of the directive brings a number of requirements and necessary adjustments.
In "Navigating CSRD Reporting in Life Sciences", our experts explain the content of the CSRD and its implications for companies in the Life Sciences industry. It shows how the CSRD acts as a catalyst for the transformation to purpose-oriented, sustainable companies. Finally, the relevant topics and challenges of the industry regarding the three components of ESG – environmental, social and governance – are described in detail.
- Consider CSRD as a business enabler to build a purpose-driven enterprise.
- CEO and board-level support is vital to build an impactful business that helps to conserve our plant and contribute to society.
- Effective change management is needed to cascade sustainability throughout the organization.
- Extensive effort must be made to collect relevant and detailed data on biodiversity and other sustainability topics. This will require close collaboration with Finance/Controlling, whose processes are more established and whose data are more mature.
- New skillsets must be developed and/or new roles created to better manage your sustainability transformation (business acumen + ESG + analytics).
- Seamless collaboration is essential to get it right both externally with investors, business partners, regulators and communities, and internally across all business segments, sustainability, finance, investor relations and IT.
Download our full report to learn more.