The Impact of ESG and CSRD on the Future of Corporate Reporting

In this interview with Ruben Verkuijl, founder of Kayak, we delve deeper into the meaning and consequences of two crucial developments in the business world: ESG (Environmental, Social, and Governance) and CSRD (Corporate Sustainable Responsibility Directive).

The Rise of ESG and CSRD

ESG (Environmental, Social, and Governance) and CSRD (Corporate Sustainable Responsibility Directive) are two important developments that are drastically changing the way companies operate and report. We not only want to explain what these terms mean, but also why they are relevant for both companies and potential candidates in the job market.

What is CSRD and Why is it Important?

The Corporate Sustainable Responsibility Directive (CSRD) is a directive established by the European Commission and the European Parliament. The purpose of this directive is to require companies to make reports on ESG issues, such as environment, social matters, and governance. This goes beyond traditional financial reporting and includes a broader responsibility of companies.

Climate Neutrality by 2050

An important goal of the Paris Agreement and the European Green Deal is to achieve climate neutrality by 2050. CSRD is a means to achieve this goal. Transparency is essential; companies must provide insight into their current status and the progress they are making. This process is facilitated by the CSRD, which provides a framework for measuring and reporting this data.

The Broad Impact on Companies

The obligation to report on ESG issues will compel companies to gain in-depth understanding of their impact on the environment and society. This goes beyond just environmental issues and includes matters such as gender balance in boardrooms and working conditions within the supply chain. All organizations, from commercial companies to governments and hospitals, will have to comply with this directive.

The Need for New Skills and Knowledge

Companies will face a major challenge in finding and training the right people to carry out these reports. Whether you are a newcomer or have years of experience, delving into ESG and CSRD is crucial to remain relevant. It is an opportunity for professionals to add value within their organizations and contribute to this important transition.

Kayak's Role in the Transition

Kayak is focused on supporting people in this personal and professional transition. We help people adapt to the new ways of governance and organization, guiding them in the journey towards effective ESG reporting.

Advice for Professionals

For professionals interested in a career in ESG or CSRD, it starts with curiosity. It is important to understand where the guidelines come from, why they were introduced, and what the impact is on organizations. Reflect on your own motivations and how you want to contribute to these developments. This insight will help you make informed choices about which training and courses you want to take.

It is crucial to take a step back, see the bigger picture, and then consciously engage in the rapidly changing environment. Kayak offers various training opportunities, such as the Kayak Academy, to further delve into the CSRD guidelines and the European Sustainable Reporting Standards (ESRS).

Professional Environment at Kayak

A question that is often asked is how Kayak itself creates a work environment that encourages professionals to make a positive impact on the world. This is an important aspect of self-reflection for us as an organization. We believe that our contribution is twofold.

First, we focus on the social aspects of ESG. The impact of our organization on the environment and vice versa is crucial. We are constantly supporting people in their careers and personal development. This is a core value of Kayak and is embodied in our program "Live Your Potential". This program focuses on the growth and development of our employees, not only professionally but also personally.

Additionally, we contribute by continuously evaluating and improving our own policies and practices to ensure that we operate sustainably and socially responsibly. This includes minimizing our ecological footprint, protecting bees through our collaboration with Weerlanderpolder Beekeeping, and sponsoring JustDiggit.

The Way Forward

With CSRD and ESG on the horizon, companies must adapt to new reporting requirements. Kayak is ready to support organizations and professionals in this transition. Invest in your ESG and CSRD skills through the Kayak Academy or other resources to add value to these changes. These shifts offer both challenges and opportunities; by delving into them, you can play a crucial role. Kayak is delighted to guide you through this.