EU’s New Sustainability Reporting Directive Requires Pan-Nordic, Corporate-Level Reporting
08. July 2024

CSRD requires real estate owners to conduct sustainability reporting at the group level

EG EnerKey offers a solution that helps property owners manage and report their energy consumption efficiently and consistently across all Nordic countries.

EU’s New Sustainability Reporting Directive Requires Pan-Nordic, Corporate-Level Reporting

The EU's new Corporate Sustainability Reporting Directive (CSRD) mandates more transparent and comparable sustainability reporting from companies. Phased in starting in 2024, the directive will expand in 2026 to include small listed companies and medium-sized enterprises. Through value chains, reporting requirements will also extend to smaller entities, which must demonstrate their sustainability efforts.

“The tightening reporting obligations also affect property owners, whose stakeholders are increasingly interested in the energy efficiency and emissions reduction of buildings,” says Jussi Kaasalainen, Senior Sales Manager at EG EnerKey.

Lack of Unified Practices Hinders Corporate-Level Reporting

CSRD requires reporting at the corporate level, which can pose challenges if a company lacks unified practices.

“It’s common for different countries or business units to have operated differently until now. Besides varying practices, there can be differences in the ability to compile data, as reporting fundamentally relies on data,” says Kaasalainen.

In the worst cases, companies lack the foundation of automatic consumption tracking, requiring manual data collection, which is both inefficient and labor-intensive.

“The data collection chain can extend from the energy manager to the maintenance staff. The more hands the information passes through, the more efficiency is lost. And when it comes time for reporting, it becomes apparent that data collection is a truly arduous project,” he adds.

EG EnerKey Centralizes Data Collection Across Countries

EG EnerKey is a pan-Nordic solution that allows property owners to manage and transparently report their energy consumption effectively. The system enables automatic data collection from different countries, simplifying corporate-level reporting and standardizing practices across various nations or business units.

“We are the only truly Nordic provider in the market, capable of offering all the data companies need for their greenhouse gas emissions reporting, using our resources and those of our partners,” Kaasalainen explains.

EG EnerKey automates real-time raw data collection and transforms it into visual analysis, allowing property owners to focus on improving energy efficiency and verifying their sustainability efforts. The user-friendly system provides customizable dashboards tailored to different stakeholder needs.

Supporting Carbon Footprint Reduction

EG EnerKey not only supports CSRD-compliant reporting but also the work companies do between reports to enhance energy and cost efficiency. The tool for this is EG Ines, an AI-powered module that automatically identifies ways to save energy and reduce the carbon footprint, guiding users to make the right decisions.

“CSRD-compliant reporting and carbon footprint reduction both require actions from companies; neither happens on its own. But our promise is that neither needs to be difficult. If this is relevant for your organization, it’s worth reaching out. We have the best market knowledge in the Nordics and the ability to connect to data sources,” Kaasalainen concludes.