Good.Lab, a provider of sustainability software and services, has launched a new solution designed to help mid-market companies comply with the European Union’s Corporate Sustainability Reporting Directive (CSRD).
Good.Lab’s latest offering streamlines the CSRD compliance process, covering every step from assessing climate reporting readiness and conducting double materiality analysis to collecting and calculating essential metrics for generating fully auditable CSRD-compliant reports, according to ESG News.
The CSRD aims to standardise non-financial reporting across companies, enhancing the consistency and quality of publicly available sustainability data.
This directive, set to take effect on January 1, 2025, will impact over 60,000 companies globally, including 3,000 in the United States.
Good.Lab’s CSRD solution ensures that companies can effectively identify, measure, report, and audit material sustainability data in alignment with the European Sustainability Reporting Standards (ESRS).
It helps companies evaluate their preparedness for CSRD reporting and offers guidance to ensure compliance. Utilising both financial and impact materiality, the solution aids in identifying the essential topics for CSRD reporting.
It also provides accurate measurement of greenhouse gas (GHG) emissions across Scopes 1, 2, and 3, with audit trails for all data analyses. Furthermore, Good.Lab’s consultants calculate all necessary material metrics and format them into CSRD-compliant reports.
Liam Bossi, Co-founder & Chief Product Officer at Good.Lab, “CSRD presents a significant compliance challenge for mid-market companies. Our solution simplifies the entire process—from readiness assessment and data collection to reporting and auditing, enabling companies to seamlessly navigate each step of CSRD compliance.”
Good.Lab’s CEO and Co-Founder, Andries Verschelden added, “Sustainability has moved beyond being a mere trend; it is now crucial for securing the longevity and resilience of business models. At Good.Lab, we equip our customers with robust solutions to achieve their sustainability objectives and ensure they fully comply with reporting requirements for regulations like the CSRD.”
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