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Background:

 

Earth Academy, a leading provider of sustainability education and training, recently developed a customized and comprehensive training program for a prominent financial services company seeking to build its understanding of and capabilities to implement the Corporate Sustainability Reporting Directive (CSRD).

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Client Profile:

 

The client, a multinational leader in the financial services sector, recognized the growing importance of sustainability reporting and aimed to align its practices with the CSRD to meet evolving regulatory requirements while reinforcing its commitment to corporate responsibility.

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Customization Process:

 

Drawing on our deep understanding of CSRD and the unique needs and challenges of the financial industry, Earth Academy meticulously tailored the training content to address broader expectations of the CSRD and the European Sustainability Reporting Standards (ESRS) [1] along with specific topics identified by the company. The customization process began with a detailed needs assessment, where Earth Academy collaborated closely with the client's sustainability leadership and reporting teams. This collaborative approach allowed Earth Academy to narrow in on several critical areas of   focus for the client, including double materiality, value chain considerations, and sustainability due diligence. Earth Academy also identified opportunities for the client to build on existing reporting, including its GRI efforts, to get a head start on the CSRD reporting requirements.          

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Selected Topics:

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1. Double materiality approach and application: Earth Academy provided sessions on double materiality analysis. This included explanation of the steps of impact and financial materiality analysis and applying different criteria to assess the material topics based on double materiality.

2. Value chain analysis: Given the focus on understanding activities and relationships across the value chain     , Earth Academy provided coaching      on identifying Impacts, Risks and Opportunities across the value chain (upstream and downstream) and helped clarify associated reporting requirements     .

3. Building on existing GRI reporting: Recognizing the client's progress on       sustainability reporting using GRI Standards, Earth Academy assessed the client’s most recent sustainability report to identify opportunities to incorporate aligned information into its CSRD reporting. Earth Academy also provided guidance on the role that both GRI and CSRD reporting could play in their sustainability reporting efforts going forward.

4. ESRS 2 application and links to topical standards: Special attention was given to the disclosures from ESRS 2 and their links to the topical standards. For example, within Climate Change, we addressed reporting the topic-specific disclosure requirements and data points alongside the topic-specific variations of ESRS 2 disclosures, such as GOV-3, SBM-3, IRO-1 and other MDR disclosures     .

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Outcome:

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The tailored training program equipped the financial services company with a profound understanding of the CSRD and empowered its teams to navigate industry-specific challenges in sustainability reporting. The company successfully integrated this new      knowledge into its reporting practices, reinforcing its commitment to transparency, accountability, and sustainable business practices.

 

Earth Academy's approach highlights the importance of customized training in addressing the unique needs of diverse industries, ensuring that sustainability reporting efforts are not only compliant but also strategically aligned with the business goals of the client.

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