SAN FRANCISCO & LONDON, April 09, 2024 (GLOBE NEWSWIRE) -- Today, Watershed launched Watershed for CSRD, a dedicated software solution for companies reporting under the European Union’s Corporate Sustainability Reporting Directive (CSRD), the most comprehensive ESG disclosure regulation in history. Watershed for CSRD extends Watershed’s science-driven sustainability data management to CSRD compliance as over 50,000 global companies prepare to enter a new era of sustainability reporting.
In early 2025, the first wave of CSRD reporters—approximately 12,000 companies globally—will submit their 2024 ESG data to EU member state regulators. The sweeping regulation holds climate and ESG data to the same standards as financial data, putting ESG reporting in the purview of corporate leadership and financial teams. The CSRD will have wide-ranging implications for companies, investors, and consumers: this will be the first time ESG data is publicly accessible and standardized across multiple jurisdictions and sectors. To meet CSRD standards, finance and sustainability teams need new levels of assurance and control over their sustainability data, clarity on what to include in their CSRD reports, and confidence that they can pass an external audit.
“2024 marks a new era of regulated climate disclosure. Under the CSRD, corporate climate reporting will go from voluntary and inconsistent to fully regulated and subject to the same high standards as financial reporting,” said Watershed co-founder Taylor Francis. “Watershed for CSRD helps finance and compliance teams meet this new bar with confidence, while giving sustainability leaders the data they need to drive decarbonization.”
“With Watershed, we avoid regulatory risk. We will face much more strict reporting requirements in the EU with CSRD requiring businesses to demonstrate the credibility of data, and having a tool that is audit-ready is a huge asset,” said Kerri Robinson, Sustainability (ESG) Program Manager at TIP Group.
With Watershed for CSRD, companies can collect, calculate, and manage the full set of ESG data—more than 1,100 data points—required under the CSRD. Guided workflows and built-in project management tools streamline collaboration across sustainability, finance, compliance, audit, IT, and supply chain teams. Watershed’s automated report builder, designed specifically for CSRD disclosure, helps customers spot data gaps or inaccuracies and tracks progress against each standard within the CSRD to help users stay on track. Customers can further scale their reporting programs by reusing CSRD metrics and answers for additional frameworks like CDP and TCFD—all within one complete platform powered by Watershed’s sustainability data engine. Designed with Watershed's in-house climate, environmental, and policy experts, Watershed for CSRD is already in use at leading global organisations.
Read more about Watershed for CSRD here.
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ABOUT WATERSHED: Watershed is the enterprise sustainability platform. Companies like Spotify, Carlyle Group, IAG, Dr. Martens, and BBVA use Watershed to manage climate and ESG data, produce audit-ready metrics for reporting, and drive real decarbonization. Watershed is the platform of choice for companies seeking to reduce emissions, meet customer, investor and regulatory requirements, and modernize their sustainability programs. Watershed customers also have exclusive access to a marketplace of pre-vetted, high-quality carbon projects and groundbreaking virtual power purchase agreements.
