Dr. Richard Scholz

Head of Impact Analysis

Dear Readers, 

New year, new requirements for companies: in 2024, the EU Corporate Sustainability Reporting Directive (CSRD) becomes valid, requiring around 50,000 companies in the EU to report on sustainability. This transparency and standardization provides opportunities for those companies that see sustainability not just as a reporting issue, but as an integral part of their management.

Which companies does the CSRD apply to? What other relevant directives are there for measuring sustainability? This article provides an overview of the relevant frameworks, KPIs, and methods.

Scope 3 emissions: Measurements, Evaluations & Coefficients

The CSRD is part of the European Green Deal, which aims to make Europe climate neutral by 2050. Greenhouse gas emissions (GHGs) are one of the main causes of global warming, measuring and managing GHGs is therefore crucial in tackling the climate crisis. WifOR supports companies in the holistic measurement of their GHGs along the supply chain – based on the Scope 3 standard of the GHG Protocol.

• Discover more about our Scope 3 Analysis: https://www.wifor.com/en/research/sustainability-research/scope-3-assessment/
• Access WifOR's coefficients for measuring GHGs along the supply chain: https://shorturl.at/chuwA 
• Calculate and understand your Scope 3 emissions with WISIT, the WifOR Sustainability Impact Tool: https://www.youtube.com/watch?v=ZsclMAAoXh8&t=2s
• Learn more about how to develop Net Zero strategies using sustainability reporting standards here: https://www.wifor.com/en/net-zero/

Turning sustainability from a compliance issue into a management topic

The CSRD requires more and more companies to report on sustainability, reinforcing transparency and standardization. However, there is still significant leeway – especially in terms of critical environmental and social effects which are deeply rooted in the supply chains. As a result, sustainability in companies is often seen as an image or reporting issue, rather than a key factor in decision-making.

With the help of Impact Valuation and Measurement (IVM), social, environmental, and economic sustainability indicators can be quantified and benchmarked along global supply chains. The results create a holistic understanding of companies' impact across the three sustainability dimensions. This information can be used not only for reporting but also helps organizations to include social and environmental risks in their decision-making alongside financial factors. Read here how impacts can be measured and evaluated.

Best wishes,

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