The best ESG reporting templates for CSRD compliance

January 9, 2024 • Georgina Brisk

Banner Image for post on Best ESG reporting templates

Understanding CSRD and its impact on ESG reporting
Benefits of ESG reporting under the CSRD
Getting started with ESG reporting
Baserow’s ESG reporting template
Benefits of using Baserow’s ESG template and database tools
Other ESG reporting software to check out
Get started with Baserow for ESG reporting and compliance

In an era where sustainability is increasingly mandated, the introduction of the Corporate Sustainability Reporting Directive (CSRD) by the European Union (EU) marks a shift in the landscape of corporate accountability. Under the new rules, around 50,000 organizations across the EU and beyond will need to publish detailed environmental, social, and governance (ESG) reports to comply with regulations and demonstrate their commitment to a sustainable future.

But what exactly is ESG reporting? Who needs to do it? And what are the best templates to use? This article will explain the changes and outline the practical steps to get started using tools like Baserow’s ESG reporting template.

Understanding CSRD and its impact on ESG reporting

The Corporate Sustainability Reporting Directive (CSRD) is a transformative piece of legislation aimed at enhancing the scope and quality of sustainability reporting among European companies. It updates and expands the Non-Financial Reporting Directive (NFRD), bringing more businesses under its remit and setting higher standards for Environmental, Social, and Governance (ESG) reporting.

The new rules require large and listed companies to publish regular reports on the social and environmental risks they face, and how their activities impact people and the environment.

Part of the European Green Deal, this ensures that investors and other stakeholders have access to the information they need to assess the environmental impact of companies and the financial risks and opportunities arising from climate change and other sustainability issues.

The CSRD entered into force on January 5th, 2023, and will take effect in stages starting from 2025, with businesses expected to complete their ESG reports in accordance with the new directive from the 2024 financial year onwards. Companies will have to report according to European Sustainability Reporting Standards (ESRS), developed by the European Financial Reporting Advisory Group.

Key Aspects of CSRD

Broader scope: CSRD extends to all large companies and all companies listed on regulated markets in the EU, except listed micro-enterprises. This includes non-EU companies with significant operations within the EU.
Enhanced reporting requirements: Companies are now required to report on sustainability matters that significantly affect their performance, position, and impact on the environment and society (double materiality).
Digital reporting format: The CSRD mandates that reporting be done in a digital format, making it more accessible and analyzable for stakeholders.

Who will be affected?

The directive applies to large companies exceeding certain thresholds in terms of turnover, balance sheet, and employee count. Specifically, this includes:

Companies with more than 250 employees.
A net turnover of more than €40 million.
A balance sheet total exceeding €20 million.
Additionally, it affects non-EU companies generating significant revenue within the EU.

Benefits of ESG reporting under the CSRD

ESG reporting is not just about avoiding penalties—it offers several benefits, including enhancing transparency and stakeholder trust by providing comprehensive insights into a company’s environmental, social, and governance practices.

It also helps in identifying and managing sustainability-related risks and opportunities, potentially leading to better investment decisions and financial performance. Furthermore, compliance with CSRD elevates a company’s reputation for corporate responsibility, making it more attractive to investors, consumers, and employees who prioritize sustainability.

Getting started with ESG reporting

The transition to comprehensive ESG reporting can be challenging, especially for organizations new to the concept. However, the process can be simplified using structured approaches and tools like Baserow’s ESG reporting template. Here are a few tips to help you get started:

Understand CSRD requirements

The first step is to familiarize yourself with the specific requirements of the CSRD, including the scope of reporting, the double materiality principle, and the digital format requirement. For example, the CSRD requires Scope 3 reporting, from both an environmental and financial perspective, with reports submitted in digital ESEF/XHTML format.

Assess your company’s impact

Conduct an assessment of your company’s environmental and social impact. This includes evaluating your carbon footprint, energy use, labor practices, corporate governance structures, and more. Engage with stakeholders to understand their concerns and expectations regarding ESG issues.

Gather relevant data

Begin collecting relevant data across all departments. This includes quantitative data like energy consumption and qualitative data like governance policies. Accuracy in data reporting is crucial, as inaccuracies can lead to mistrust and regulatory issues. Be transparent about both successes and areas for improvement.

Implement an ESG reporting template

Adopt a structured reporting tool like Baserow’s ESG management template. Baserow’s template is particularly useful as it offers a no-code, user-friendly interface for data collection and management, allowing you to organize and track your ESG data efficiently.

Regular review and update

ESG reporting is not a one-time activity. Regularly review and update your data to ensure ongoing compliance and to reflect any changes in your company’s practices or impact. Use a no-code database like Baserow for continuous data management and improvement, not just compliance.

Baserow’s ESG reporting template

Baserow’s ESG reporting template is an innovative solution designed for organizations adapting to the new CSRD guidelines. It simplifies the ESG data collection process, offering a structured approach to measure, track, and report on environmental, social, and governance initiatives.

It allows companies to:

Categorize data under Environmental, Social, and Governance heads.
Customize fields according to specific data needs.
Track progress over time, providing a clear timeline of initiatives and their impacts.
Generate reports in a digital format aligned with CSRD requirements.
Incorporate the U.N. SDGs into ESG reporting.
Leverage an array of database features for automation, customization, and collaboration to streamline and simplify data management.

Key features of Baserow’s ESG template

Alignment with U.N. Sustainable Development Goals (SDGs)

The template incorporates all 17 SDGs set by the United Nations, providing a comprehensive framework for setting and tracking ESG targets. By integrating the SDGs into ESG reporting, companies can demonstrate how their operations contribute to broader global sustainability goals, providing a more holistic view of their impact and progress in areas like climate action, social equality, and responsible consumption and production.

SMART Target Setting

You can define specific, measurable, achievable, relevant, and time-bound (SMART) targets, linking each to a relevant SDG. This ensures that objectives are clear, achievable, and can be effectively measured.

Comprehensive tracking of initiatives and actions

Baserow’s ESG reporting template allows for the detailed listing of initiatives and actions planned or taken to meet the set ESG targets. Each initiative can be linked to specific actions and responsible staff members, ensuring accountability and progress tracking across the board.

Impact measurement

For each initiative, companies can record estimated and actual impacts, providing a clear picture of their effectiveness. This feature is crucial for assessing progress against the set ESG targets.

Flexibility and customization

The template is designed to be adaptable to the specific needs and goals of different organizations. Fields like target name, description, current state, and percentage completed can be tailored to suit various reporting requirements.

Ease of use

Baserow’s no-code platform makes it accessible for all staff members, regardless of their technical expertise. This ease of use facilitates broader engagement in the company’s ESG reporting process.

Benefits of using Baserow’s ESG template and database tools

Streamlined reporting: The template simplifies the ESG reporting process, automating repetitive processes and making it more efficient and less time-consuming for you to comply with CSRD guidelines. Users of all skill levels can create and manage ESG or any other databases without any coding knowledge, making it accessible for non-technical teams.
All-in-one centralized solution: Baserow’s user-friendly design, combined with its customizable features and unlimited databases, makes it an ideal choice if you’re looking for organized and centralized storage of extensive ESG data. By keeping all relevant data in one place, it reduces the risk of errors and inconsistencies in ESG reporting.
Advanced database features: The ESG management template makes it easy to produce comprehensive and understandable ESG reports. Users can tailor fields and tables to suit specific data requirements, collaborate in real-time with comments and notifications, and view data in various ways such as Grid, Calendar, Gallery, Kanban, Form, and more.
API integration: Baserow offers API access for integration with other tools and systems, facilitating seamless data flow and automation.
Improved transparency: The clear and accessible structure of the template ensures that all aspects of ESG reporting are transparent and easily understandable by stakeholders, fostering trust and credibility among investors, customers, and the public.
Open-source with self-hosted option: As an open-source tool, Baserow allows for customization to meet specific ESG and CSRD reporting needs, including the development of unique features or integrations. A self-hosted option allows businesses to keep all their ESG data on their own servers, making it especially beneficial for organizations with strict data security and privacy requirements.
Award-winning no-code database: Baserow is not just for ESG reporting, it’s an award-winning no-code database platform for creating scalable databases and applications without code. Customers range from start-ups to Fortune 500 companies, with business use cases in many industries like banking, healthcare, research, technology, manufacturing, real estate, education, and the public sector.
Cost-effective: As an open-source software, Baserow provides a more economical option compared to proprietary software, especially considering long-term usage and customization. Start with a free plan, or check out Baserow’s professional pricing plans starting from just $5 per user per month.
Enterprise-ready: Baserow Enterprise plan is designed to support large teams in industries to build databases, collaborate on projects, create applications and workflows, and digitize processes. It offers features like role-based access control, single sign-on, an admin panel, and direct priority support.

Other ESG reporting software to check out

Enablon ESG Excellence

Best for: Comprehensive ESG management and reporting.
Key features: Offers robust data management, analysis, and reporting capabilities. Includes modules for sustainability, risk management, and compliance.
Best suited for: Large enterprises seeking a complete solution for ESG data collection, management, and reporting.
Pricing: Custom pricing based on the organization’s size and needs. Pricing can be expensive for larger teams.

Sustainalytics

Best for: ESG Risk Assessment and Performance Analysis.
Key features: Provides detailed ESG risk ratings, portfolio screening, and thematic research.
Best suited for: Investors and financial institutions needing in-depth ESG risk assessments and performance analytics.
Pricing: Tailored based on services chosen and the size of the investment portfolio.

CSRHub

Best for: Benchmarking and ESG performance tracking.
Key features: Aggregates and normalizes ESG data from various sources, providing a comprehensive rating system.
Best suited for: Companies and investors looking to benchmark ESG performance and gain insights from aggregated data.
Pricing: Offers different subscription levels, including a basic plan with limited free access and premium plans for more comprehensive data.

EcoOnline EHS

Best for: Environmental, Health, and Safety (EHS) management with ESG focus.
Key features: Integrated platform for managing EHS and sustainability data, with tools for incident reporting, risk assessment, and compliance management.
Best suited for: Organizations looking to integrate their EHS practices with broader ESG goals.
Pricing: Pricing is available upon request and is based on the size and specific needs of the organization.

Intelex ESG Solutions

Best for: Streamlined ESG data collection and reporting.
Key features: Offers a centralized system for ESG data tracking, management, and reporting, aligned with global standards.
Best suited for: Mid-sized to large companies needing an efficient tool for ESG data management and stakeholder reporting.
Pricing: Customized pricing based on the company’s specific requirements.