Solution
CSRD
Navigate the complexities of Corporate Sustainability and Responsibility Disclosure (CSRD) with ease using 3rdRisk's specialised solution. Our platform simplifies compliance, reporting, and management of CSRD obligations, ensuring your business meets evolving sustainability standards efficiently.
3 most common challenges and our solutions
Comprehensive reporting requirements
The CSRD directive demands extensive and detailed sustainability reporting, which can be overwhelming for businesses to compile and manage.
Internal Control module
The 3rdRisk Internal Control module simplifies this process with its integrated reporting tools. Our platform enables efficient data gathering, analysis, and reporting, ensuring that your business meet the CSRD's comprehensive requirements with accuracy and ease.
Integrating sustainability into business operations
The directive requires companies to integrate sustainability into their core business strategies, which can be a complex transition.
Internal control module
Our Internal Control solution aids in seamlessly incorporating sustainability into business operations. It provides frameworks and best practices to align business strategies with sustainability goals, facilitating a smooth transition to a more sustainable business model.
Ensuring third-party compliance
Under CSRD, companies are not only responsible for their own sustainability practices but also for those of their third-party partners and suppliers.
TPRM module
The 3rdRisk TPRM module is specifically designed to address this challenge. It enables thorough assessment and monitoring of third-party compliance with sustainability standards, ensuring that your entire supply chain adheres to CSRD requirements. This comprehensive approach helps mitigate risks associated with third-party engagements and aligns your entire network with your sustainability goals.
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FAQ
In the overview below, we have listed the most frequently asked questions and answers. Do you still have questions? Just reach out to one of our experts.
What tools does 3rdRisk offer for risk management in sustainability initiatives?
Our platform includes a dedicated risk management module for sustainability initiatives. It offers tools for identifying, assessing, and mitigating risks, ensuring a proactive approach to sustainable business practices and aiding in maintaining CSRD compliance.
Can 3rdRisk assist in managing third-party compliance with sustainability standards?
Absolutely. Our TPRM module helps assess and monitor your third-party partners and suppliers to ensure they adhere to sustainability standards. This is crucial for CSRD compliance, as it extends the responsibility of sustainability practices across your supply chain.
How can 3rdRisk help my company comply with CSRD requirements?
3rdRisk aids compliance by providing tools for detailed sustainability reporting, data management, and integration of sustainability practices into business operations. Our platform simplifies the process of compiling and managing CSRD reports, ensuring your business meets these new standards efficiently.
What is CSRD and how does it impact my business?
The CSRD is a European Union directive that extends sustainability reporting requirements beyond large public-interest companies to all large companies and listed SMEs. It impacts your business by necessitating comprehensive sustainability reporting, including environmental impact, social responsibility, and governance matters.
Can I effectively manage third-party risks with 3rdRisk without having a dedicated team?
Yes. By using the TPRM module of the 3rdRisk platform, you can already assess and monitor up to 100 third parties with only a few hours a week. In addition, you can also decide to outsource third-party risk management or internal control activities. For organisations that are inclined to outsource these tasks, we have established partnerships with renowned partners who are well-versed in leveraging our platform’s capabilities allowing them to deliver excellent quality at a competitive price.
Do I need training to operate the 3rdRisk platform?
No. No training or certification is required to operate the 3rdRisk platform. For organisations that choose to manage their internal control or third-party risk management program in-house, our platform acts as an intuitive platform, streamlining processes and making follow-up and monitoring straightforward. Its design ensures that teams can quickly familiarise themselves with its features, reducing the learning curve and allowing for immediate implementation.
