Almost two-thirds (63%) of companies are confident they will be ready to comply with the EU’s Corporate Sustainability Reporting Directive (CSRD), according to PwC’s 2024 Global CSRD Survey. This directive is set to impact around 50,000 companies, underscoring its global influence. 

The survey, encompassing over 500 senior executives and business professionals in finance, sustainability, and risk sectors, reveals widespread anticipation of the CSRD’s impact on corporate leadership and decision-making. Notably, more than three-quarters of companies outside the EU and 74% within the EU expect the directive to elevate the consideration of sustainability in business strategies. Among the respondents from 38 countries and territories, 75% plan to report at a consolidated group level, including non-EU operations. 

Despite the high confidence levels, the survey highlights significant challenges, particularly in data availability and quality. Only 20% of companies due to report in 2025 have validated the completeness and availability of necessary data. 

Nadja Picard, PwC Germany’s Global Reporting Leader, emphasized the importance of accurate and audit-ready sustainability data, comparable to financial reporting. “As the countdown to CSRD compliance approaches, it is positive to see companies largely confident in their readiness. However, many are still grappling with complex data challenges across their value chain,” she noted. 

Marilyn Obaisa-Osula, Head of ESG, Sustainability and Climate Change at PwC Nigeria, pointed out the broader benefits expected from CSRD implementation. Companies leading in their CSRD journey foresee not only environmental benefits but also financial gains such as improved access to capital, revenue growth, and cost savings. 

As businesses worldwide prepare for the CSRD, the directive’s emphasis on robust and comparable sustainability reporting is expected to drive significant improvements in corporate transparency and accountability, reinforcing the global push towards sustainable business practices. 

Sources: 

https://leadership.ng/63-firms-to-comply-with-eu-corporate-sustainability-reporting-directive-pwc/ 

https://cyprus-mail.com/2024/06/13/pwc-63-per-cent-of-companies-ready-for-eu-sustainability-directive/ 

https://www.pwc.com/gx/en/news-room/press-releases/2024/pwc-global-csrd-survey.html