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Alexander Rahusen, Chief Financial Officer, on preparing for CSRD reporting
Sustainability is an important topic at many companies, but how is it measured and how should you prepare for upcoming laws and regulations such as the CSRD? Alexander Rahusen, Chief Financial Officer (CFO) at Exact, spoke with FDmagazine. This interview summary relates what Exact does to prepare for sustainability reporting and its interactions with customers regarding reporting in Exact's software.
As a software company, Exact is well aware of the challenges associated with sustainability, diversity and data security. "We are working hard to reduce our carbon emissions by adapting our data centres and making mobility changes, such as reducing air travel", says Alexander.
How does Exact know which sustainability factors are most relevant to an industry? Alexander explains: "Close consultation with trade associations enables us to determine the biggest sustainability pain points. These will be different for a haulier than at an accounting firm. There is one constant, however: the European CSRD is based on the principle of double materiality. This means companies must report on how the environment affects their organisation (the outside-in view), but also on their own impact on the climate, the environment, neighbours and so on (the inside-out view)." CSRD legislation means listed companies must supply reports for their activities in 2024 by 2025. They must also demonstrate their progress compared to 2023.
Alexander explains his organisation's activities to implement sustainability reporting for Exact's software: "At Exact, we are actively working to adapt our products so that companies can report sustainability data. We have conducted extensive feedback sessions with various stakeholders such as customers, analysts, suppliers and others", says Alexander. "We are currently developing solutions to capture as many required data points in Exact ERP systems as possible to enable integrated sustainability reporting", says Alexander Rahusen.
Interested in the full interview? Read it here.
As a software company, Exact is well aware of the challenges associated with sustainability, diversity and data security. "We are working hard to reduce our carbon emissions by adapting our data centres and making mobility changes, such as reducing air travel", says Alexander.
How does Exact know which sustainability factors are most relevant to an industry? Alexander explains: "Close consultation with trade associations enables us to determine the biggest sustainability pain points. These will be different for a haulier than at an accounting firm. There is one constant, however: the European CSRD is based on the principle of double materiality. This means companies must report on how the environment affects their organisation (the outside-in view), but also on their own impact on the climate, the environment, neighbours and so on (the inside-out view)." CSRD legislation means listed companies must supply reports for their activities in 2024 by 2025. They must also demonstrate their progress compared to 2023.
Alexander explains his organisation's activities to implement sustainability reporting for Exact's software: "At Exact, we are actively working to adapt our products so that companies can report sustainability data. We have conducted extensive feedback sessions with various stakeholders such as customers, analysts, suppliers and others", says Alexander. "We are currently developing solutions to capture as many required data points in Exact ERP systems as possible to enable integrated sustainability reporting", says Alexander Rahusen.
Interested in the full interview? Read it here.
