Raw: [
A PwC Luxembourg report reveals that 55% of FY2024 companies foresee challenges in maintaining data quality and consistency as they prepare for Corporate Sustainability Reporting Directive (CSRD) compliance. The directive…
The post 80% of Companies Plan to Implement New Tech to Meet CSRD Requirements: PwC Report appeared first on ESG News.
]
80% of Companies Plan to Implement New Tech to Meet CSRD Requirements: PwC Report – ESG News
LOADING
ESG News
ESG Business
ESG Reporting
ESG Standards
Sustainability
Environmental
Technology
Infrastructure
Government
Diversity, Equity & Inclusion
ESG Investing
Sustainable Finance
ESG Funds
Digital Assets
ESG Lifestyle
ESG Events
Upcoming Event List
International
ESG India
ESG Middle East
ESG Asia
ESG Japan
ESG Canada
ESG Europe
ESG APAC
ESG United Kingdom
ESG Latin America
ESG Russia
Video
Force For Good
UN Global Compact Leaders Summit 2022
Greenwich Economic Forum
Blockchain for Europe
UNCTAD Sustainable Stock Exchange Initiative
Humanity 2.0
World Economic Forum
Caspian Week
Converge2Xcelerate
International WELL Building Institute
EarthX
Type to search
ESG NewsESG Business
ESG ReportingESG StandardsSustainabilityEnvironmentalTechnologyInfrastructureGovernmentDiversity, Equity & Inclusion
Tim Mohin: EU’s New ‘Omnibus’ – Simplification or Rollback?
ESG News
December 6, 2024
Net-Zero Asset Owner Alliance Calls For Mandatory Scope 3 Disclosure
ESG News
December 6, 2024
80% of Companies Plan to Implement New Tech to Meet CSRD Requirements: PwC Report
ESG News
December 6, 2024
EU Commission Publishes EU Taxonomy FAQ to Simplify Sustainability Reporting
ESG News
December 2, 2024
CDP, 20 Landscape Experts Set Standards for Sustainability Beyond Supply Chains
ESG News
November 19, 2024
ISO Launches Global ESG Implementation Principles at COP29
ESG News
November 15, 2024
IAASB Unveils New Global Standard for Sustainability Reporting Assurance
ESG News
November 13, 2024
videocam
Inside CFA Institute: The World’s Largest ESG Investing Training Program for Finance Professionals with Robert Langrick – Interview
ESG News
October 6, 2024
Top Five Sustainability Headlines; Barbados, Formula-E, Fisheries, Fashion, Nature Credits
ESG News
December 7, 2024
Maersk to Use up to 20% Alternative Fuels For its Fleet in 2030
ESG News
December 2, 2024
videocam
Hilton’s Hotel Marcel: A Net-Zero Transformation Reshapes Hospitality Industry – Video
Matt Bird
November 10, 2024
videocam
Ceres Program Director Dan Saccardi Joins ESG News to Discuss a Shift in ESG and Corporate Sustainability Trends
Matt Bird
October 25, 2024
80% of Companies Plan to Implement New Tech to Meet CSRD Requirements: PwC Report
ESG News
December 6, 2024
PwC Launches New Blog Series Exploring ESG Technologies’ Impact on Businesses
ESG News
December 2, 2024
Microsoft Builds First Wood Datacenters, Cutting Carbon Emissions by 35%
ESG News
November 5, 2024
KKR and ECP Launch $50 Billion AI Data Center and Power Infrastructure Partnership
ESG News
October 30, 2024
Australia Invests $50M in Singapore’s FAST-P to Drive Southeast Asia’s Clean Energy Transition
ESG News
December 3, 2024
70% of UK Homeowners Want Their Homes to be More Energy-Efficient: Barclays Report
ESG News
November 29, 2024
Wells Fargo IN² Awards $250,000 to Three Startups Targeting Net Zero Buildings
ESG News
November 28, 2024
Blackstone Acquires $1B Santander Loans, Boosting Sustainable Infrastructure Investments
ESG News
November 27, 2024
Maersk Advances Gender Equality with 45% Women Cadet Intake in India for 2024
ESG News
September 30, 2024
2024 Equality Index Report Reveals 45% of Companies Now Publish Disability Data: Disability:IN
ESG News
July 17, 2024
Freddie Mac’s New ESG Strategy: Advancing Sustainable Housing
ESG News
July 5, 2024
H&M’s Move Together and Laureus Sport for Good Expand Partnership to France for Youth Inclusion and Gender Equity Through Sport
ESG News
June 20, 2024
ESG Investing
Sustainable Finance ESG Funds Digital AssetsESG LifestyleESG Events
Upcoming Event ListInternational
ESG India ESG Middle East ESG Asia ESG Japan ESG Canada ESG Europe ESG APAC ESG United Kingdom ESG Latin America ESG RussiaVideo
Force For Good UN Global Compact Leaders Summit 2022 Greenwich Economic Forum Blockchain for Europe UNCTAD Sustainable Stock Exchange Initiative Humanity 2.0 World Economic Forum Caspian Week Converge2Xcelerate International WELL Building Institute EarthX
Get Breaking ESG News Alerts
Daily Newsletter
Join Now
videocam
Latest News
Seven simple questions
Help us improve your experience, delivering more of what you want
ESG Survey
Seven simple questions – Help us improve your experience, delivering more of what you want!
80% of Companies Plan to Implement New Tech to Meet CSRD Requirements: PwC Report
ESG Reporting
/
News
/
Technology
/
80% of Companies Plan to Implement New Tech to Meet CSRD Requirements: PwC Report
by ESG News
•
December 6, 2024
Share:
Share on Facebook
Share on Twitter
Share on LinkedIn
Listen to this story:
Data Quality Hurdles: 55% of FY2024 companies anticipate challenges in maintaining data quality and consistency for CSRD compliance.
Tech-Driven Solutions: Over 80% of companies are adopting or planning to implement new technologies to meet CSRD reporting requirements.
C-Suite Involvement: CFOs and CEOs are taking the lead on disclosures for FY2024, while FY2025 sees increasing involvement of Chief Sustainability Officers (CSOs).
A PwC Luxembourg report reveals that 55% of FY2024 companies foresee challenges in maintaining data quality and consistency as they prepare for Corporate Sustainability Reporting Directive (CSRD) compliance. The directive mandates transparent ESG reporting, pushing businesses to integrate sustainability into their operations and value creation strategies.
Olivier Carré, Deputy Managing Partner and Technology Leader at PwC Luxembourg, notes:
“The successful implementation of CSRD hinges on leveraging advanced technology solutions that can efficiently manage and integrate vast amounts of sustainability data. Companies must invest in robust data management and reporting systems to overcome these hurdles.”
Olivier Carré, Deputy Managing Partner and Technology Leader at PwC Luxembourg
Nearly half (45%) of surveyed companies express concerns about having adequate resources to meet CSRD requirements, with most expecting to allocate 3-5 full-time employees (FTEs) to these projects. Training is also a priority, as 48% of FY2024 companies have launched full-scale CSRD training programs, while 37% are offering partial training.
Related Article: RWE successfully implements new technologies for more Sustainability in Wind Power
CSRD as a Strategic Imperative
PwC’s findings highlight a shift in perspective:
50% of companies view CSRD as a driver of strategic value creation.
58% have already incorporated non-financial KPIs into executive variable remuneration, with another 29% planning to follow.
Michael Horvath, Advisory Partner and Sustainability Leader at PwC Luxembourg, emphasizes:
“The CSRD is the cornerstone enabling Europe to deliver on the European Green Deal. It puts sustainability at the core of companies’ business models, prompting them to integrate it into strategic decision-making processes.”
Michael Horvath, Advisory Partner and Sustainability Leader at PwC Luxembourg
Technology and Leadership Take Center Stage
Over 80% of respondents are adopting or planning technological upgrades for CSRD compliance. These solutions aim to enhance data accuracy, facilitate real-time reporting, and ensure alignment with stringent regulatory standards.
Responsibility for disclosures is evolving. While CFOs (29%) and CEOs (27%) are leading for FY2024, FY2025 sees growing involvement of Chief Sustainability Officers (CSOs) at 22%.
The report underscores that CSRD’s rigorous approach to sustainability will elevate it to the same importance as financial reporting, transforming ESG metrics into actionable insights for long-term growth.
Follow ESG News on LinkedIn
Share:
Share on Facebook
Share on Twitter
Share on LinkedIn
Topics
CSRD Requirements
ESG
Michael Horvath
Olivier Carré
PwC
Related Articles
Deloitte Launches New Low-Carbon Solutions Page to Help Organizations Achieve Emissions Goals
ESG News •
December 9, 2024
Brookfield Renewable Launches C$200M Green Hybrid Bonds to Fund ESG Projects
ESG News •
December 9, 2024
DocuSign and Bonterms Partner to Standardize ESG Clauses, Driving Sustainability and Investor Value
ESG News •
December 9, 2024
Abu Dhabi Finance Week (ADFW) 2024 Kicks Off Today
ESG News •
December 9, 2024
Dec
8
December 8 @ 11:00 pm – December 12 @ 8:00 am EST
Abu Dhabi Finance Week (ADFW) 2024
Dec
9
December 9 @ 2:00 am – December 12 @ 11:00 am EST
Building Bridges Summit 2024
Dec
10
12:00 pm – 1:00 pm EST
Watershed’s CSRD Summit
Dec
25
All day
Event Series
Christmas Day
View Calendar
Today’s Top ESG Stories
Deloitte Launches New Low-Carbon Solutions Page to Help Organizations Achieve Emissions Goals December 9, 2024
DocuSign and Bonterms Partner to Standardize ESG Clauses, Driving Sustainability and Investor Value December 9, 2024
Abu Dhabi Finance Week (ADFW) 2024 Kicks Off Today December 9, 2024
7 Simple Sustainable Travel Tips For This Winter Holiday December 8, 2024
Net-Zero Asset Owner Alliance Calls For Mandatory Scope 3 Disclosure December 6, 2024
ESG News Quote of the Day
“Sustainable development is the development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”
Tweet
ESG News Daily Newsletter
First Name
Last Name
Email address:
Leave this field empty if you’re human:
Next Up
Aramco, Linde, and SLB Partner to Build One of the Largest CCS Hubs Globally
ESG News
December 6, 2024
About ESG News About Us
Become a Contributor
Newsletter
Contact Us
Services Advertise With Us
Sponsorships
Events
News Agency
Terms & Privacy Terms & Conditions
Privacy Policy
Cookies
Copyright
Follow Us
YouTube
©2021 ESG News Corp. All rights reserved.
Add ESG News to your home screen?
Add this web page on your home screen for quick and easy access when you’re on the go.
Just tapthen “Add to home screen”
×