INSIDE THE CSRD CLIMATE REPORTS

The report analyzes the first wave of CSRD climate reports from 93 large EU companies, finding that while limited assurance is standard, many companies are restating or erasing historical data to improve quality. It identifies a trend toward integrating sustainability internal controls with financial systems and notes that while GHG reporting is improving, monetized climate risk and opportunity reporting remain rare. The document also evaluates the adoption of the EU Taxonomy and the reporting of political lobbying and climate-related executive incentives.

• A significant majority of companies are adjusting their historical data to align with new standards; 9 out of 10 companies either erased their historical comparison data or restated it.
• Limited assurance is the dominant practice for CSRD reporting, with 79 out of 93 companies receiving limited assurance, while 13 received mixed assurance and only one received reasonable assurance.
• GHG emission reporting shows a trend of increasing Scope 1 and 2 emissions due to expanded boundaries and better data collection, while Scope 3 upstream emissions are slightly reducing as companies shift from 'spend-based' methods to direct supplier data.
• Monetized reporting of climate risks and opportunities is uncommon, particularly for 'real economy' companies, although financial institutions show more effort in monetizing physical risks.
• The EU Taxonomy reporting has improved in terms of format and coding, with all reviewed companies now using mandatory tabular formats and official Delegated Act codes.
• Reporting on political influence and lobbying (G1-5) is an emerging and inconsistent area; only about half of the companies considered it material, and only two-thirds of those disclosed donation amounts or membership fees.
• Climate-related incentives for executives are widely adopted, with 70 out of 93 companies clearly identifying climate as part of their incentive structure.
• There is a noted discrepancy between Double Materiality Assessments (DMA), which measure gross risk, and Enterprise Risk Management (ERM), which measures net risk, leading some companies to conclude that DMA-material risks are not material for financial reporting.

APA

We Mean Business Coalition (n.d.). INSIDE THE CSRD CLIMATE REPORTS. https://www.wemeanbusinesscoalition.org/wp-content/uploads/2025/06/WMBC_Inside_CSRD_climate_reports_Final.pdf

Chicago

We Mean Business Coalition. INSIDE THE CSRD CLIMATE REPORTS. n.d. https://www.wemeanbusinesscoalition.org/wp-content/uploads/2025/06/WMBC_Inside_CSRD_climate_reports_Final.pdf.

Wikipedia

{{cite report |author=We Mean Business Coalition |title=INSIDE THE CSRD CLIMATE REPORTS |url=https://www.wemeanbusinesscoalition.org/wp-content/uploads/2025/06/WMBC_Inside_CSRD_climate_reports_Final.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{wemeanbusinesscoalitionndinside, author = {{We Mean Business Coalition}}, title = {{INSIDE THE CSRD CLIMATE REPORTS}}, institution = {We Mean Business Coalition}, url = {https://www.wemeanbusinesscoalition.org/wp-content/uploads/2025/06/WMBC_Inside_CSRD_climate_reports_Final.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }