In March 2018, the CSR Directive Implementation Act officially came into effect retroactively with effect from 01/01/2017. The standard requires certain large, publicly traded organizations and public-interest entities to disclose non-financial information.
As a result of the directive, the organizations concerned should develop a long-term strategy for the continuous improvement of their sustainability performance. This is generally done by publishing non-financial information in the CSR report. This report informs shareholders and stakeholders primarily about management strategy by documenting the risks and consequences of ecological, social and employee-relevant aspects. In addition, a CSR report comprises information on the corporate views with regard to corruption and bribery. The directive does not explicitly require the non-financial report to be verified. However, for transparent and authentic reporting, testing by external TÜV NORD CERT specialists offers significant advantages.
EU-wide we assume that there are currently approx. 6000 companies directly affected by the CSR Directive. Primarily, this includes large publicly traded companies. But even medium-sized companies that are involved indirectly (e.g. via the supply chain of these larger companies) can benefit from CSR / sustainability reports. In general, this applies to all organizations that want to distinguish themselves and stand out from the competition.
Internal benefits:
External benefits:
Organisations affected by the EU Directive have to explain various aspects of their business performance, operating results, the situation of the corporation as well as the impact of all activities. Essentially this includes the following points:
Obviously, these points also provide a guideline to reporting organisations that are not directly affected by the EU Directive, yet want to issue a holistic performance report.
Existing products / certificates might be eligible as evidence in the sustainability report.
TÜV NORD CERT is an internationally recognised and reliable partner for testing and certification services. Our experts and auditors have in-depth knowledge and are always permanently employed by TÜV NORD. This guarantees independence and neutrality as well as continuity in the support of our customers. The advantage for you is obvious: our auditors accompany and support the development of your company and give you objective feedback.