On Thursday, October 17^th, Intire hosted its third CSRD roundtable on the theme of challenges surrounding ESG data and software. A group of 10 professionals from the sustainability, finance, and IT sectors participated in the discussion, sharing their experiences and insights on this topic.

What did we discuss?

CSRD implementation at NS Groep

Patrick Kinds, Manager Group Finance at NS Groep

Patrick Kinds shared his experiences with the implementation of CSRD at NS. Specifically for this session, he focused on the information architecture required for CSRD, how data collection was managed, and the decisions made to ensure comprehensive CSRD reporting by 2025.

The event opened with a presentation by Patrick Kinds from NS, who shared the company’s journey towards CSRD compliance. He outlined NS’s approach to collecting and using sustainability data, the process of evaluating suitable sustainability software, and the key priorities in their decision-making.

After this presentation, Intire’s Wietse Mol guided an interactive breakout session on current data trends and the role software plays in enabling effective ESG data management. He stressed that connectivity between systems is crucial for CSRD compliance, and highlighted that an adaptable data model that fits the organization’s structure is key. Finally, he emphasized the importance of collaboration between finance and sustainability, highlighting their significant overlap in areas such as climate risk, compensation, and budgeting.

This roundtable took place on the 17th of October 2024.

The second breakout session, led by Intire’s Wesley Schulte, delved into the software landscape for ESG data management. One of the key points that came forward was that ESG data collection is time-intensive and error-prone when done in Excel. Implementing specialized software can automate the process, formalize data collection, and provide better opportunities for analysis. The group also went over the range of available sustainability software. The participants unanimously agreed that integrating CSRD data into existing IT infrastructure was challenging, and most felt that specialized ESG software is necessary to meet the CSRD’s data requirements, especially in the case of qualitative data.

During the roundtable, several key questions were debated. Participants were divided on the feasibility of collecting all required ESG data internally, with some finding it possible through clear departmental roles, while others noted that certain ESG data, particularly on social aspects, is difficult to define and track. Most did not think that the CSRD places unrealistic demands on companies, though some did raise concerns about the administrative burden. Another point of discussion centered on whether the benefits of CSRD reporting outweigh the cost of data collection. Notably, only a minority agreed with this, but one of these participants argued that having more data ultimately enables better decision-making, even if the short-term costs are high. In the long term, the insights gained from CSRD compliance would bring clear advantages.

Main takeways:

The roundtable discussions highlighted a few core conclusions. First, there is no one-size-fits-all solution for ESG data and software management. The best approach depends on each organization’s specific structure and needs. However, it was clear that connectivity with external data sources and a well-structured data model are essential. Finance also plays a central role in sustainability reporting, and using monetary metrics to evaluate ESG performance is becoming increasingly important. Although there are challenges, particularly around the administrative burden that CSRD compliance can place on organizations and the cost of data collection, the long-term benefits of CSRD reporting will likely outweigh the initial investment.

We are proud of the success of this roundtable and extend our gratitude to all participants for their valuable contributions.

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