The client, the European division of a US insurance group with multiple entities within the scope of the new European Union Corporate Sustainability Reporting Directive (CSRD), sought a partner to support putting together a compliance plan for public disclosure commitments.
Crowe worked with the client’s teams to confirm which entities fell within scope, on both a standalone and consolidated basis, as well as reviewing their double materiality assessment.
Crowe completed a detailed data and document review across the organisation’s European entities to populate an extensive gap analysis against their seven material European Sustainability Reporting Standards (ESRS). The gap analysis resulted in a number of recommendations which were grouped into action plans for presentation to management. We provided a further gap analysis against the five non-material ESRS standards, on an advisory basis, to inform potential future work plans.
Crowe deployed resources from across its network, using expertise from both its Spanish and UK practices, to address a broad set of in-scope ESG aspects.
We were able to support management in identifying key actions that would prepare the organisation for CSRD reporting, focusing particularly on how to leverage synergies from existing reporting conducted. We provided a clear route map to compliance, with a structured and integrated action plan.
By recognising that the ESRS requirements were arranged around a management system structure, we were able to provide practical insights into how to simplify reporting for the future so that this could be replicated.