The importance of measuring and managing ESG performance is rapidly increasing due to the significant wave of new ESG reporting requirements, as well as shifting stakeholder expectations and pressure from investors. Conor Holland and Eva Sheehy of our ESG Reporting & Assurance team explain how the Corporate Sustainability Reporting Directive (CSRD) in particular represents a profound change for corporate reporting.

With CSRD reporting being subject to mandatory assurance, companies should ensure that they develop appropriate processes and controls, similar to financial reporting, and consider undertaking a CSRD reporting readiness assessments to ensure they are in a position to comply with the new regulatory obligations.


Almost all large Irish public and private companies will be subject to mandatory sustainability reporting in accordance with ESRS. The CSRD would be effective from 01 January 2024 for those entities already subject to the NFRD (reporting in 2025) and from 01 January 2025 for all other large companies (reporting in 2026).

Compared to previous European sustainability-related reporting requirements, the ESRS will be significantly more detailed in both the depth of disclosure and the scope of metrics to be reported. In addition, there will be a mandatory limited assurance requirement.

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Key points - what you need to know

ESG reporting changes under the CSRD

  • Many more companies will have to report, including large private entities and a number of organisations headquartered outside the EU.
  • Significant expansion of the scope and number of ESG KPIs to be reported for topics including biodiversity, resource use, your own organisations', and suppliers’, workers, and business conduct.
  • Limited assurance of ESG reporting is mandatory.

KPMG can help

Our ESG Reporting & Assurance team can support your business as you prepare for mandatory ESG reporting under the CSRD. 

This is a significant change in corporate reporting with the reported information subject to limited assurance. The standards are complex and underpinned by a new conceptual framework.

Get more detailed information in our guide to ESRSs (PDF, 778KB)

How can we support you?

CSRD gap analysis

Using our bespoke CSRD readiness tool, we can identify gaps between the company’s current reporting, and what will be required under the ESRS (CSRD) standards. Through this engagement, we can provide the organisation with a detailed roadmap on steps necessary to achieve compliance.

Double materiality assessment

Undertaking a double materiality assessment is required under the CSRD. Our bespoke double materiality methodology can identify and prioritise the ESG topics that the company will need to report on.

Assurance readiness

Ensuring the organisation has appropriate data, processes and controls before mandatory assurance on CSRD reporting comes into effect is critical. Undertaking some targeted assurance procedures is highly recommended before the organisation reports for the first time. 


Obtaining assurance over ESG reporting can take many forms – including limited assurance, reasonable assurance, green bond assurance, sustainability linked loan assurance.

Get in touch

CSRD reporting represents an entire suite of new sustainability reporting standards. Entities will face many challenges in developing the necessary reporting infrastructure in a manner equivalent to financial reporting.

Leveraging our approach to CSRD, we can help your business:

  • Identify material reporting gaps through our independent view of CSRD reporting requirements
  • Put in place targeted assurance readiness procedures with associated observations on any data issues or deficiencies in processes, controls or governance
  • Create an independent assessment over the integrity of reported ESG information
  • Mitigate concerns over “greenwashing”

Contact our team below today to explore how you can prepare your business for the CSRD.

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