A new study by Datamaran has examined how firms across Europe are responding to the Corporate Sustainability Reporting Directive (CSRD), and how impacts, risks, and opportunities (IROs) associated with the directive are being contextualised and presented.
As it found, negative impacts outnumber opportunities by around three to one, with 37% of all IROs classified as negative impacts and just 13% as opportunities.
‘This suggests companies are taking a cautious approach and are aligning with the principle of prudence,’ Datamaran noted.
CSRD Reports Uncovered
The study, entitled CSRD Reports Uncovered: Insights from a Detailed Analysis of 11,000+ IROs from 300+ Companies, covered 300 companies across 21 countries and 57 different industries, examining IRO statements disclosed between January and April 2025 in terms of how businesses are approaching materiality assessments, interpreting new reporting requirements, and setting sustainability priorities.
Within firms’ CSRD reports, Climate Change (E1), Own Workforce (S1), and Business Conduct (G1) emerged as the most frequently reported topics, while Water (E3), Biodiversity (E4), and Affected Communities (S3) received significantly less attention.
The average CSRD statement weighed in at 103 pages, although the number of IROs disclosed showed significant variation, from as low as six to as many as 130. The average was between 25 and 45.
Companies identified an average of six out of the 10 ESRS standards as material, reflecting the broad application of the double materiality lens, the study found. Notably, only 14% of companies included any entity‑specific IROs.
‘A new standard’
“As the CSRD sets a new standard for transparency and accountability, our analysis shows that most companies are still building the muscle for continuous, data‑driven management,” commented Marjella Lecourt‑Alma, CEO and co‑founder of Datamaran.
“This report gives corporate leaders a valuable benchmark as they work to evolve from compliance to competitive advantage.” Read more here and here.
