Understanding the CSRD
Known as the “Corporate Sustainability Reporting Directive” in French, the CSRD is a directive from the European Commission initiated in April 2021 and published on December 16, 2022, in the Official Journal of the EU. This directive aims to increase corporate transparency and strengthen their social and environmental responsibility. Indeed, targeted companies will need to report on various environmental and social indicators including climate.
It also aims to adopt a unified European language related to sustainability information to allow for better comparison of the overall performance of companies.
In response to the CSRD on climate, companies will need to:
Better understand their current impact and dependence on greenhouse gas emissions by assessing their carbon footprint,
Understand how to evolve their business model to be viable in a low-carbon world
Identify their physical risks and adaptation needs to face the current and future climate change.
Who is concerned?
How ThinkCities® can help companies meet the requirements of the CSRD?
ThinkCities® is an innovative digital tool dedicated to reporting environmental and social indicators. It offers a geo-decision platform that allows identifying, measuring, and tracking the ecological performances of companies in their territories. Here’s how ThinkCities® can help companies meet the requirements of the CSRD:
Systemic and Multicriteria Evaluation
ThinkCities® allows for a systemic evaluation of projects in relation to ecological and energy transition objectives (TEE). It uses 60 referenced indicators covering various business themes such as waste management, bicycle mobility, air quality, heat islands, and smart lighting. This multicriteria approach is essential to meet the varied requirements of the CSRD, providing a comprehensive overview of the environmental and social impacts of a project.
Scoring and Predictive Analyses
ThinkCities® utilizes a scoring system from 0 (not performant) to 5 (very performant) for each indicator. This scoring is illustrated through dashboards associated with the digital twins of sites. This allows for quantifying performance gaps and prioritizing actions to be taken. In addition, the predictive analyses of ThinkCities® help anticipate the impact of corrective actions on reducing gaps, allowing for more effective planning of measures to be taken.
CSRD Reporting and Real-Time 3D Visualization
The application allows for conducting and visualizing ecological evaluations in real time. Thanks to predictive analyses, ThinkCities® secures investments by anticipating the future performances of projects. This real-time tracking and prediction capability is crucial for companies that must regularly report their progress on sustainability.
Collaboration and Transparency
The application allows for more effective collaboration among different stakeholders. Data and analyses can be shared in real time, facilitating communication and coordination among teams. This is particularly useful for CSRD reports, which often require close collaboration between internal departments and external parties.
The CSRD marks a significant evolution in European regulation regarding corporate social responsibility and non-financial reporting. ThinkCities® offers a robust and scalable solution to manage these requirements, thanks to its evaluation, visualization, interoperability, and collaboration features.
By using ThinkCities®, companies can not only comply with regulations but also improve their ecological and social performance, thereby contributing to a more sustainable economy.
