As the Corporate Sustainability Reporting Directive (CSRD) comes into effect, companies across Europe are gearing up to meet its ambitious new standards. One leading European retailer recently embraced this challenge, taking its first steps toward reporting under the new regulatory framework. Known for its strong market position and commitment to quality, the retailer set out not only to comply with CSRD requirements but also to ensure alignment with the broader sustainability strategy of its parent company.
From chaos to coordination
Due to this being the first time the company was reporting under CSRD, there was little pre-existing structure to build on for Willem-Jan Dryvers, Project Consultant and his team. The evolving and often unclear nature of the legislation meant navigating significant uncertainty, which required flexibility and continuous alignment with external developments.
The overarching group had already completed a double materiality assessment and defined a set of material topics and KPIs that all brands within the group had to report on. This top-down structure provided clarity but also created friction. Parallel communication flows between group-level and brand-level stakeholders often led to confusion, delays, or duplicate efforts.
Navigating the first CSRD reporting cycle meant dealing with uncertainty and complexity. By acting as the central point of contact, we brought structure, aligned stakeholders, and kept the project moving forward.
To resolve this, TriFinance took on the SPOC-roll within the brand. Willem-Jan Dryvers, Project Consultant at CFO services, coordinated communication across all stakeholders and ensured that the right operational teams were engaged at the right moment. This structured approach helped reduce inefficiencies, avoid duplicated efforts, and maintain momentum throughout the project.
A clear structure
Translating the group-level topics to the brand context proved equally challenging. Not all data points were available or even relevant for the brand. Some KPIs made sense on a group-wide scale but lacked granularity at brand level, while others couldn’t be measured due to lack of historical data or system limitations. Willem-Jan and his team tackled this by setting up pragmatic workarounds, such as proxy indicators, and producing clear documentation on data availability and assumptions.
Operational teams, including Finance, Health & Sustainability, Logistics, Sales, and the Energy Office, were already operating at full capacity, and ESG was not yet integrated into their day-to-day priorities. There were no dedicated ESG resources available at the brand level, which meant responsibilities had to be added on top of existing roles, making planning and engagement even more critical.
Project governance played a critical role in managing this complexity. A clear structure with defined ownership, feedback loops, and decision paths was essential to keep progress on track and ensure accountability across the board.
Built to last
By the end of 2024, the retailer successfully reported its first CSRD KPIs, meeting regulatory requirements and achieving limited assurance - i.e., a moderate level of assurance on the reliability of reported data.
“To achieve successful CSRD reporting, I documented every step of the process, including detailed process flows, risk identification, control design, and improvement recommendations”, Willem-Jan explains. “This not only satisfied audit requirements but also created a repeatable model for future reporting.”
Beyond compliance, the project delivered several key benefits for the client.
- First, it provided a fully documented reporting framework, including clear roles, responsibilities, risks, and controls, ensuring the process was sustainable and repeatable.
- Second, the blueprint created during the project identified inefficiencies and offered concrete solutions to streamline future ESG reporting, enabling the client to reduce time and effort in subsequent reporting cycles.
- Additionally, the company gained valuable insights into how to structure its ESG efforts, not only for compliance but also for integration into day-to-day operations and strategic decision-making.
- Lastly, the client was able to heighten internal awareness and alignment around ESG, ensuring a stronger foundation for meeting evolving sustainability demands. TriFinance’s pragmatic approach can now serve as a starting point, helping the retailer prepare for future regulatory challenges and take the lead in sustainable business practices within its sector.
The project highlighted the importance that ESG cannot remain an add-on for compliance; it must be positioned as a critical element of the company’s long-term strategy.
Laying the groundwork for lasting change
This project demonstrated that even in the face of legislative ambiguity, resource constraints, and organizational skepticism, it is possible to deliver meaningful results through a pragmatic and flexible approach. Managing the uncertainty required creative problem-solving and continuous alignment with evolving regulations. Additionally, the project highlighted the importance of investing in dedicated ESG resources and integrating sustainability into core business strategies. ESG cannot remain an add-on for compliance; it must be positioned as a critical element of the company’s long-term strategy.
This experience also underscored the value of effective change management and stakeholder engagement. By fostering open communication and addressing concerns early, it was possible to shift perceptions and gain buy-in from key stakeholders. The project not only achieved its primary objectives but also set the stage for the retailer to continue building on its ESG efforts with a more structured and strategic approach.
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