CSRD
Navigate the complexities of Corporate Sustainability and Responsibility Disclosure (CSRD) with ease using 3rdRisk's intuitive cloud-based risk platform. Our platform simplifies compliance, reporting, and management of CSRD obligations, ensuring your organisation meets evolving sustainability standards efficiently.
3 challenges
#1. Reporting requirements
The CSRD directive demands extensive and detailed sustainability reporting, which can be overwhelming for businesses to compile and manage.
#2. Sustainable business
The CSRD directive requires organisations to integrate sustainability into their core business strategies, which can be a complex transition.
#3. 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.
Key benefits
- Align with best-practices
- Streamline processes
- Improve stakeholder engagement
- Standardise reporting
- Improve decision-making
Our features to simplify & automate compliance
Register internal and external risks. Link risks to a specific third-party, internal control(s) and/or location within your organisation. Follow the ISO 31000 best-practice workflow containing of risk identification, assessment, treatment and monitoring. Use the interactive risk matrix to easily filter different risk disciplines and scores.
One integrated register for all your third parties. Register multiple contracts per third-party. Assign risk profiles to segment your landscape, taking into account multiple risk domains such as cybersecurity, sustainability and compliance. Connect with your procurement system to retrieve and enrich your supplier data.
One integrated register for all your internal & external compliance requirements Use it to manage compliance requirements for security, sustainability, privacy, legal, quality and many others. Define a specific scope & applicability per compliance requirement and link them to one or more assessment questionnaires. Monitor compliance in real-time.
Integrate the different third-party assessment efforts of all your risk and compliance disciplines. Combine questionnaires from different risk disciplines into one third-party assessment. Suppliers log in to a secure supplier portal in which they can collaborate and provide their evidence. Our AI-powered review module makes an initial analysis.
Continuously monitor your third-parties in 2 million news sources and receive instant alerts on negative news articles. Activate our out-of-the-box integrations with BitSight, SecurityScorecard, Ecovadis, Refinitif and many others to retrieve your third-parties' security, sustainability, financial or compliance risks ratings in one central overview.
Consolidate remediation actions across all internal teams and third-parties within a unified action plan repository. Assign ownership through our platform and Microsoft Teams. Set and adjust timelines for each action, with reminders to keep progress on track via our platform's virtual officer, e-mail and Teams. Visual indicators offer status updates, simplifying oversight.
For organisations with limited time or resources for third-party risk management, we have formed partnerships with esteemed experts in the field. These partners can fully manage the entire third-party risk management process for you, encompassing risk profiling, due diligence, and real-time monitoring, by using our fit-for-purpose platform. Schedule a conversation.
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 is the CSRD and how does it impact my organisation?
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.
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.
Does your platform support compliance with the Corporate Sustainability Reporting Directive (CSRD)?
Absolutely. Our platform is equipped to help retailers comply with the CSRD. We provide tools and features that facilitate the necessary reporting and management of sustainability-related information, a critical aspect for modern retailers. Together with Deloitte we are also working on a retail sustainability community.