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By csrdday.nl

‘We are at a crucial crossroads to keep our planet liveable. By moving from transparency to transformation, companies are cashing in on opportunities around climate impact.’ On that note, CSRD DAY 2024 kicked off on Tuesday 12 November. The conference was fully booked with over 600 participants weeks before it started. A report on this successful day that was rated by participants with an average score of 8.2!

Chairwoman of the day Chantal Inen put it well when welcoming participants: “Today we are creating a movement towards positive impact.” The positive impact that companies can make by seeing CSRD as an opportunity and not a threat resonated throughout the day.

A special and powerful kick-off by Peter Bakker of WBCSD created a sense of urgency among the participants. Peter in his video message: “Six out of nine planetary boundaries are being crossed. Climate effects such as droughts and floods are increasingly visible.”

A Tilt is Necessary

This calls for action. According to Peter, a tilt is necessary. “As a society, we can no longer be stuck in nice but empty promises. The business community can innovate. And it is much needed. To visualise the possibilities, the CSRD provides insight into impact. Because without measuring, you cannot improve. Realise that a company is only successful if its activities are not detrimental to people and society. Let’s work on that together today.”

Our Co-Founder at Impact Institute Michel Scholte gave the first impetus for this. He re-emphasised the importance of making impact as an organisation and showed the journey from transparency to transformation:

“Financial drivers predominated in organisations and still do. The voices heard in companies and the music played are not for people and nature, but for shareholders.”

Organise Differently

Peter Bakker already indicated that the climate risks are obvious to all. Michel: “CSRD brings change, as it is the new sheet music for polyphony. What is unique about the reporting requirement is that the relevant impact, apart from financial relevance, is named. And that is what we need to organise ourselves around.’

CSRD Day therefore represented a joint quest to bring out best practices. “Later in the day, we will give success stories more attention, during the presentation of the CSRD Awards.” Michel shared five principles by which sustainable products and companies will win over polluting products:

• CSRD literacy
• Fulfilling open standards with integrity
• Governments, consumers, financial institutions
• Individual where necessary, collective where possible
• EU competitive advantage

It was then up to Deloitte’s Wim Bartels to take the participants ‘to the baseline’. “At the beginning of this century, companies started reporting. Eckart Wintzen, founder of BSO, came up with the thinking that as companies we should not only focus on finance, but move towards true pricing. A true price for people and the environment.”

About CSRD DAY

The first edition of CSRD DAY was organised on 12 November 2024. CSRD DAY is a new annual event for both large companies and SMEs and focused on implementing the Corporate Sustainability Reporting Directive (CSRD) and the transition to a sustainable economy and sustainable business practices. CSRD DAY  was co-organised by Impact Insitute, Van der Molen E.I.S and Smart Work Places (SWP).

Opportunities in sight

It has been a while since companies got it between their ears that they could not pass up sustainability as an opportunity. Wim: “Looking back, it started with taking stock of what a company has and what it is already doing. First gain insight, then get a picture of performance, identify dilemmas and integrate solutions. During CSRD Day, we learn how to implement this properly. The spirit of the reporting requirement is to have data, to move towards a sustainable economy.”

Wim outlined four scenarios that are possible, depending on our choices:

• Silent progress
• Solidified stagnation
• Sustainable synergy
• Magnified stagnation

“We are obviously going for sustainable synergy. We want it to be clear from reports, what the targets are and how we learn from implementation.”

Good governance

Mildred Hofkes, researcher and publicist, then looked at ‘the big G of ESG’. She emphasised future-proof governance: “There is always the balance between the financial component and doing good. But what then is good governance and who determines it? Future leaders, the young generation, should be represented, because they have a good future prospects.”

Good governance can be affected by politics, among other things. For instance, it does something to our reality that Donald Trump was elected the 47th president of the United States. In addition, geopolitical situations and national politics impact how we ‘do the right thing’.

“Should judges then determine what good governance is?”, Mildred stimulated participants. With Shell appealing and with no additional commitments to phase out CO2 emissions, the question is who is engaged and committed to making the world a better place.

“That is what you and I do. Ask open questions to each other so you learn where you stand with each other. And be transparent about what is and is not going well. Let’s inspire and hold each other accountable for that.”

Among other things, participants found that inspiration at the thematic breakout sessions. For instance, Annemieke Bos of Grand Thornton and Mischa Ewoldt of Stedin talked about how to make a CSRD report audit ready. For example, how to choose reporting: a sustainability selection, integrated report or continuous reporting.

Photos CSRD DAY (by Lieke Kooyman)

Reporting focus

“Choose a structure,” Annemieke indicated. The integrated option, or all sustainability information in a separate section. Mischa informed that the choice may depend on how your organisation is structured: “Compliance-driven or strategy-driven. Make a clear choice on that beforehand.” To this, Annemieke added the importance of a reporting focus. “Visualise per theme what the impact risks and opportunities are. A good example is to include a synopsis in the report, with the main message you want to convey.”

Dave Lindenberg – Janse of Vattenfall also focused on sharing practical advice during a theme session. He revealed how his organisation started its materiality analysis in 2014 and tipped: “To take actions and to make impact, we first worked on a complete picture. We started with internal stakeholders and then involved external stakeholders. We wanted to have that dialogue. You start talking to customers, suppliers, subcontractors. Think above all: what do you get out of it and what is your goal?”

CSRD Avocados

CSRD is also a pressing topic in the food sector. The food sector is in transition to provide more sustainable, healthy and accessible food for all. But it is also one of the most polluting sectors says Michel Scholte in a parallel session. “Food as an economy is a big part of economic activity. That makes sense because we cannot live without food. You can book fewer private jets, or sail fewer yachts, but to stop eating is not an option.”

This makes the CSRD a challenging topic for the food sector. “Biodiversity, for example, of the land designated for food, 77% is agriculture from animal food production. This has emissions, but also comes at the expense of animal habitat.” What this boils down to, according to Scholte, is simple. On net, we are going backwards.

Yet Impact Institute, together with Robin Food Coalition, is doing all it can to improve this. Volkert Engelsman explains. ‘We import from all over the world, is that good or bad? I think we can start a movement by including overseas farmers in the sustainability process.’

SMEs involved in CSRD too

Braanker Logistics and Van Oord together with parties Hot Item and Green Aumatic presented a practical example of sustainability supply chain and their journey to CSRD. Because just because you are not CSRD obligated does not mean you do not come across CSRD obligated customers, partners or buyers.

Steven Moll, Supply Chain Operations Manager at Van Oord opens the story. “Van Oord has been a green family from a distant past, so sustainability has always been a high priority. We therefore also started working on CSRD in time.”

This way, the topic of CSRD came to Tony Faro, Director at Braanker Logistics. “We are not CSRD obligated, but as a logistics company, Van Oord came to us with their request. Then you are included on what they have to report. Not only for CO2 but also for measures and targets.’

Transparent communication

Back in the plenary hall, Laura van Geest, Chairman of the Financial Markets Authority (AFM), said that the AFM welcomes the introduction of the CSRD.

“Because it is not always easy to see how green or how grey the activities of companies are. Fortunately, transparent communication is quite possible. Surveys of 29 listed companies showed that they are making great strides in dual materiality analysis. There are also companies struggling with it, but only in this way can companies adjust their strategy.”

According to Laura, more reporting is not necessarily better than good reporting. You also communicate what you cannot communicate at the moment.

Rewarding best practices

It was time for the CSRD Awards, rewarding examples of success around CSRD. Companies could apply for the awards with their report for FY2023. From the 34 entrants, 12 companies were shortlisted (9 large companies and 3 SMEs/other) based on a methodology developed by Impact Institute. Royal Philips (large company category) and Schijvens Corporate Fashion (SME/other category) were named winners of the first Dutch CSRD Awards.

A more detailed jury report is available which includes some encouragement and good practices from the nominees’ reports. Impact Institute will soon publish a note with best practices ‘harvested’ from the entries for the awards.

Sustainable growth

Former prime minister Jan Peter Balkenende then talked about sustainable growth. “It is related to sustainability. Make sure you never negatively affect certainties of the coming generation.” According to Jan Peter, companies should scratch themselves behind the ears if they make their money without considering the future. By wasting energy and materials, for example. By negatively affecting the environment and emitting (too much) CO2.

According to Jan Peter, the guiding principle therefore becomes that you are allowed to hold each other accountable.

“That concerns responsibility for yourself and your environment as well as for future generations. That’s why I find the expression ‘serve to win’ attractive. Together, we can ensure that we take responsibility for a sustainable and sustainable society.”

Before the wrap up, Volkert Engelsman, founder of Eosta and Nature & More and Werner Schouten of Impact Economy Foundation gave their closing thoughts. According to Volkert, we need acupuncture points: “Health is a defining issue here. If what I am doing is bad for me, then it also does something to nature.” And vice versa. According to him, we need frontrunners to lead by example, co-creators and prototypes for ‘the new normal’.

From materiality analysis to karma study

“We need to ensure that front runners can cash in on their ecosystem merits. If they contribute to a fair division of work-welfare, for example. Or make sustainable products cheaper. We will only be successful if people and planet also win. The dual materiality analysis becomes a karma study, for future generations.”

Werner: “In what people planet profit failed to do in decades, CSRD succeeds. We now bring ESG into the engine room and make sure that not only financial returns count anymore, but above all social value. And if you are better for society, that should be rewarded.” Volkert concludes, “For example, by paying less interest on the money you borrow, or a reduction in profit tax. Make it attractive, so that one plus one becomes three.”

View all photos (by Lieke Kooyman) from CSRD DAY 2024 here.

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