Withum's ESG Service Simplifies CSRD Compliance

Princeton-based firm Withum has launched a new outsourcing service via its Sustainability and ESG Practice to assist companies in complying with the European Corporate Sustainability Reporting Directive (CSRD). With Around 50,000 firms globally required to comply, the service aims to help predominantly U.S. businesses navigate the complexities of the directive, which will be enacted from 2024, and provide detailed sustainability performance reports.

Withum, the Princeton, N.J.-based firm, has unveiled a new outsourcing service as part of its Sustainability and ESG Practice. This initiative is designed to assist companies in meeting the requirements of the European Corporate Sustainability Reporting Directive (CSRD), which mandates detailed sustainability performance reporting according to the European Sustainability Reporting Standards (ESRS). The CSRD is being phased in starting in 2024, with first reports due in 2025, affecting large firms and certain SMEs in the EU, as well as non-EU companies earning over EUR 150 million in the EU market.

According to Joe Holman, Principal and Practice Leader for Sustainability and ESG Services, approximately 50,000 companies globally are required to comply with these new reporting standards, and many U.S. firms may be unaware of their obligations. Withum's outsourcing service aims to provide a comprehensive solution to help these companies navigate the complexities of the CSRD with minimal disruption.

Key features of the service include:

Preparation: Addressing boundaries, materiality assessments, and GAP analysis.

Readiness: Controls testing, documentation, and recommendations.

Data Collection: Utilizing questionnaires, emissions tracking, and data aggregation.

Reporting: Providing preparation, audit support, and ad-hoc reports.

Withum is committed to empowering U.S. public companies to understand and fulfill their sustainability reporting requirements, whether facing direct obligations or indirect pressures from customers and investors.

Until next time…

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Withum Launches Outsourcing Service to Support Compliance with European Sustainability Reporting Directive

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