Despite 100% of Businesses Preparing for EU CSRD Compliance, EcoOnline Research Finds 63% of Mid-Market Organisations Struggling with Readiness

Mid-market companies at risk of being underprepared Mid-market companies at risk of being underprepared Although 100% of survey respondents have begun preparing for EU CSRD compliance, enterprise organisations (those with over €1B in annual revenue) are further along in their readiness than their mid-market peers. While 60% of enterprise organisations are 'almost ready' and have the right tools and solutions in place, only 37% of mid-market businesses said the same, and risk being 'left...

LONDON, 13/11/2024 (informazione.it - comunicati stampa - industria)

Although 100% of survey respondents have begun preparing for EU CSRD compliance, enterprise organisations (those with over €1B in annual revenue) are further along in their readiness than their mid-market peers. While 60% of enterprise organisations are 'almost ready' and have the right tools and solutions in place, only 37% of mid-market businesses said the same, and risk being 'left behind' as a result.

Though mid-market businesses have slightly longer to prepare, these organisations need more support with scaling EU CSRD  efforts. Top areas cited by mid-market respondents for further support were 1) data collection, 2) greenhouse gas (GHG) accounting, and 3) drafting EU CSRD report outputs, indicating a lack of confidence in tools and processes.

Over half of those surveyed are focusing on double materiality assessments  as a vital compliance step to identify areas for resource investment. However, EcoOnline's SVP ESG & Sustainability, David Picton comments: "

Organisations are also tackling CSRD preparedness by:

The report found an overwhelming majority of respondents (66% of enterprise and 89% of mid-market) believe the directive will drive meaningful sustainability integration within their operations over the next 3–5 years. In fact, many companies in Europe are already implementing voluntary reporting frameworks beyond mandatory reporting, like the Science Based Targets Initiative (93%), Global Reporting Initiative (99%), or Carbon Disclosure Project (100%).

David Picton also notes,

Need help with your EU CSRD compliance and reporting? Download the 2024 EU CSRD Readiness Report  for key insights, attend David Picton's 'Top 5 Insights' webinar on December 4  or learn more about EcoOnline's CSRD Assessment  solution.

The 2024 EU CSRD Readiness Survey engaged executives, VPs, and directors in ESG, sustainability, finance, operations, EHS, and strategy across companies in Denmark , Finland , France , Germany , Iceland , Ireland , Italy , Norway , Sweden , and the UK.

The respondents represent a sample of over 50,000 companies subject to the EU CSRD, covering firms across various revenue bands, from small and mid-market companies (€10M–€1B in annual revenues) to large enterprise organisations (over €1B in annual revenues). This sample provided a 95% confidence level with a 10% margin of error.

EcoOnline delivers innovative environment, health and safety (EHS), chemical management and ESG and sustainability technology solutions to forward-thinking leaders. Founded in 2000 and trusted by over 10,000 brands worldwide, EcoOnline's connected suite of SaaS software enables businesses to protect their people and the planet by ensuring compliance, mitigating risk and streamlining operations. Backed by an unwavering commitment to customer success, EcoOnline's software is powerful yet simple to use – built on decades of real-world expertise, data and insights.

Visit ecoonline.com  to immediately and positively impact your workplace safety and sustainability. 

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