How to "flip the script" on CSRD compliance and get ready quickly

As of January 1, 2025, the Corporate Sustainability Reporting Directive (CSRD) data collection year is officially underway for many US and global companies. Are you ready? If you feel behind on your CSRD efforts, read on to learn how Ramboll can help kickstart your CSRD readiness. This article walks you through how to “flip the script” and quickly jump-start your CSRD program by prioritizing crucial data collection gaps at the same time you are completing your CSRD-aligned double materiality assessment.

Focus on implementation

If you have recently started your CSRD compliance efforts, first prioritize setting up data collection systems for the environmental, social, and governance (ESG) topics you know will be material. This ensures readiness for the 2026 disclosure deadline. We recommend conducting the full double materiality assessment (DMA) after you get your data “house in order,” so to speak. At Ramboll, we employ this approach to help companies quickly tackle the most challenging part of compliance: collecting the necessary data.

Starting with a quick materiality assessment

Many clients ask, “Don't we have to do a full double materiality assessment?” The answer is yes. However, for the majority of companies, their material issues are often clear, based on their industry and existing approach to sustainability issues. To help companies start collecting CSRD data now, Ramboll often uses a “quick DMA” approach. This method:

• Identifies material topics withing 2-3 weeks.
• Engages key internal stakeholders to validate these topics.
• Enables immediate data collection ahead of a full materiality assessment.

While not as detailed as the full double materiality assessment required by the CSRD, this streamlined approach enables companies to jump-start data collection. Instead of spending 2-3 months on a comprehensive DMA, companies can focus on training staff on the new reporting requirements, developing tools and templates, and addressing gaps in their data collection processes right away.

Simultaneously assessing and filling gaps

The other component of full CSRD compliance is a gap assessment comparing your current reporting against the 1,000+ data points outlined in the European Sustainability Reporting Standards (ESRS). Following a similar approach, we recommend delaying the full gap assessment and initially focusing on addressing critical data gaps. Certain areas – particularly climate change, own workforce, pollution, and circularity – present more significant gaps than others, making it crucial to prioritize data collection in these domains. While these efforts move forward, you can simultaneously conduct a full ESRS gap assessment. In this way, companies ensure that high-effort compliance actions are not delayed.

Transitioning to a full double materiality assessment

Once implementation is underway and the initial gap assessment is complete, companies can proceed with a full double materiality assessment. Building on insights from the quick DMA, this comprehensive process evaluates:

• How the company’s operations impact the environment and society (impact materiality).
• How sustainability issues impact the company (financial materiality).

After completing the full DMA, findings can be integrated back into the gap assessment and implementation process. This iterative approach ensures alignment with CSRD requirements while maintaining momentum in your compliance efforts.

Conclusion

While there is always some risk in updating your double materiality assessment after initiating data collection, we have found that the additional effort required to integrate changes from the full DMA is typically minimal. Starting with implementation pays off, allowing companies to address looming CSRD deadlines without unnecessary delays.

By beginning data collection immediately using the “quick DMA” approach and planning for a full double materiality assessment later, companies can expedite their compliance efforts. Ramboll's extensive experience in CSRD readiness – and in addressing a breadth of ESG issues – enables companies to jump-start compliance effectively.

If you are feeling behind on the CSRD, reach out to us today. Let’s get started on achieving your compliance goals.

For more information on the CSRD visit our overview page or dive into the articles linked below.