Explore and plan data to meet CSRD requirements
Some of the functionality described in this release plan has not been released. Delivery timelines may change and projected functionality may not be released (see Microsoft policy). Learn more: What's new and planned
|Enabled for||Public preview||General availability|
|Users by admins, makers, or analysts||Dec 2023||-|
The European Commission has adopted a legislative proposal for a Corporate Sustainability Reporting Directive (CSRD). The directive requires companies within its scope to report on environmental, social, and governance (ESG) matters using a double materiality assessment in compliance with the European Sustainability Reporting Standards (ESRS) starting from reporting year 2024.
Thus, enterprise organizations need a mechanism to be on top of the ESG metrics inventory that needs to be reported. And as part of this effort, there is a need to understand and plan to get sustainability data from disparate systems (Sustainability systems, HR, finance, CRMs, and more) for various metrics, transform the data for disclosures, draft qualitative declarations, link evidence to substantiate the disclosures, assess the disclosures by various internal auditors and finally generate the audited report in both human and machine-readable formats.
The CSRD preview solution enables you to explore and plan for the data required for CSRD. It also enables the workflow to collect the data for disclosures, internally review the disclosure data and generate a report for the reviewed disclosure data.
This feature provides the following enhancements to the CSRD reporting capabilities that were released in public preview in June 2023:
- Streamlines ingestion and standardization of the data for the disclosure requirements
- Augments the evidence data to substantiate data for disclosures
- Streamlines audit and final report generation for sustainability regulatory reporting, starting with CSRD
This feature also includes updates to the CSRD template (preview) in Purview Compliance Manager for the finalized reporting standards that the European Commission will publish over the next few months.