Reporting on biodiversity is many times more complex than climate accounting. As part of a multi-stakeholder dialog platform, a practical guide for a CSRD-compliant, science-based and cost-efficient materiality analysis is therefore to be developed this year with partners from business and society.
Project launch Environmental Foundation Michael Otto
CSRD reporting and biodiversity: How important is the topic for my company?
At EU level, the Corporate Sustainability Reporting Directive (CSRD) specifies reporting obligations designed to ensure transparency. However, these are principle-based and are not subject to any specific standardization. At the same time, reporting on biodiversity is many times more complex than climate accounting. In order to design these in a meaningful way, as many relevant stakeholders as possible must therefore be involved.
To this end, the Michael Otto Environmental Foundation is initiating a multi-stakeholder dialog platform with various partners from business and society in order to make the materiality analysis on biodiversity practical and robust. Tools (such as Encore, STBN Sector Materiality Tool, WWF Biodiversity Risk Filter, Kuyua, IBAT) are tested and jointly evaluated. The findings are summarized in a guideline that serves as a model for reporting. Interested companies, associations and other stakeholders are invited to take part in the project.
Further information on the project can be found here on the website of the Michael Otto Environmental Foundation.