Corporate sustainability reporting and assurance is here, and now is the time to act

In response to evolving regulatory frameworks, corporate sustainability reporting has become a crucial element of business transparency and accountability across Europe and Belgium. The European Union’s Corporate Sustainability Reporting Directive (CSRD), alongside the European Sustainability Reporting Standards (ESRS), has set a new benchmark for how companies disclose their environmental, social, and governance (ESG) performance. This transformation aligns with the European Green Deal’s ambitious goals of climate neutrality and sustainable economic growth.

As sustainability reporting shifts from voluntary to mandatory, organizations face new challenges in understanding, implementing, and assuring ESG disclosures. Our KPMG Survey of Sustainability Reporting 2024 highlights the ongoing adaptation required, particularly in Belgium, where the transposition of the CSRD into national law introduces specific requirements and compliance considerations. Companies must now navigate rigorous reporting obligations, including the Double Materiality Assessment (DMA), EU Taxonomy alignment, and independent assurance requirements, to meet stakeholder expectations and regulatory demands.

This document provides a comprehensive overview of the regulatory landscape, key reporting standards, and the assurance process. With KPMG’s expertise, companies can enhance the reliability, rigor, and quality of their ESG disclosures, ensuring compliance and strategic alignment with sustainability objectives. Explore our insights and guidance to stay ahead in the rapidly evolving world of corporate sustainability reporting.