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The Science of Climate Change

Climate change is no longer a distant threat or just a possibility, it is now a reality for all of us. In this pathway, Kevin Trenberth, a renowned climatologist, delves into the science behind climate change. He first introduces the climate system, its main components and forces.

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Plastic pollution is by far the biggest threat to our oceans and this remains an incredibly tough problem to solve. Plastic credits could potentially serve as one of the much needed solutions for this crisis.

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+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

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Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Sustainability Unlocked to your current platform

Featured Content

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The Scale of the Net Zero Challenge

The price of meeting net zero is estimated to be between $100-150 trillion over the next 30 years. Regardless of this cost, we need to reach net zero before climate change does irreversible damage to the environment and the economy.

ESG, Sustainability and Impact Jargon Buster

ESG, sustainability, impact… they all just mean green, right? Not quite. Despite being used often interchangeably, there are distinct differences between these terms.

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Introduction to the CSRD

Introduction to the CSRD

Laura Houët

What does the Corporate Sustainability Reporting Directive (CSRD) mean for businesses? Join Laura Houët as she explains the implications of the CSRD and who will be required to report and when.

What does the Corporate Sustainability Reporting Directive (CSRD) mean for businesses? Join Laura Houët as she explains the implications of the CSRD and who will be required to report and when.

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Introduction to the CSRD

9 mins 43 secs

Key learning objectives:

  • Understand who the CSRD applies to

  • Outline when the Directive will come into effect

  • Identify the implications and next steps for businesses as a result of the CSRD

Overview:

The Corporate Sustainability Reporting Directive (CSRD) will change the landscape of corporate sustainability reporting for companies within and outside the EU. It will impact various organisations, including EU-incorporated companies and EU parents of large companies. The Directive will require companies to publish a sustainability report and assess their environmental impacts, along with other key obligations.   

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Summary
What is the primary focus of the EU’s Corporate Sustainability Reporting Directive (CSRD)?

The CSRD aims to drive accountability and transparency in corporate sustainability practices while promoting sustainable investments. It is a key element of the European Green Deal, which was launched in 2019 with the ultimate goal of making the EU climate neutral by 2050. The directive modernises and strengthens existing rules on non-financial reporting, significantly expanding the scope to include many more companies. 

What is the timeline for the implementation of the CSRD?

The implementation of the CSRD will be phased in between 2024 and 2028. The first reporting cycle will be based on data from the 2024 financial year. This cycle will include EU-incorporated companies that are already subject to the Non-Financial Reporting Directive. The next cycle will require large companies and EU parents of large companies to report on 2025 data. Parent companies from non-EU entities will be required to report on 2028 data if they generate more than €150 million in net turnover in the EU and have either a large EU subsidiary or a branch with more than  €40 million net turnover.

What are the key criteria for large companies under the CSRD?

Large companies are defined as those meeting at least two out of the following three criteria – annual net turnover exceeding €50 million, a balance sheet exceeding €25 million, or at least 250 employees on average throughout the year. 

What is "double materiality" in the context of the CSRD?
Double materiality is a pivotal concept under the CSRD that ensures the relevance of a company's reporting to its business. It involves two assessments: impact materiality and financial materiality. The first identifies the company's impacts on the environment and people, while the second identifies the sustainability matters that impact the business. A reporting standard is deemed "material" if it meets either of these tests. 

What are some of the main obligations for companies under the CSRD?

Companies must adhere to several key obligations under the CSRD, including publishing an annual sustainability report. This report must be based on the European Financial Reporting Advisory Group (EFRAG) standards, known as the European Sustainability Reporting Standards (ESRS). Companies must also incorporate comprehensive data and must include information on the company’s own operations as well as its upstream and downstream value chain. Another main obligation is to ensure limited assurance, meaning the CSRD reports will require limited assurance from a third party, typically the company's auditor. This assurance ensures the credibility and accuracy of the reported information.

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