Blue Module unveils CSRD software at Expo Real
Blue Module, a provider of ESG Accounting Software, is introducing a project-based approach at Expo Real in Munich to comply with the annually mandatory CSRD reporting, specifically for real estate companies.
ESG regulation demands unprecedented transparency from real estate companies: both environmental impact and financial risks are central.
The Sustainable Finance Disclosure Directive (SFDR) and Corporate Sustainability Reporting Directive (CSRD), along with the Taxonomy Regulation, are currently the focal points in the real estate world. Especially since the ESRS standards, part of CSRD, have recently been adopted, this signifies a substantial change in the way companies demonstrate sustainable business practices.
European Sustainability Reporting Standards (ESRS) is a binding reporting standard for sustainability. It includes 12 guidelines, including sustainability, health, and well-being, and companies must report disclosure requirements about strategy, implementation, and performance metrics.
Due to ESG regulations, real estate companies have to be more transparent about their activities. They must clarify how ESG factors determine the value of their real estate and how their activities affect the world and the environment.
Jan Willem de Graaf, CTO and Founder of Blue Module: ‘Our ESG Accounting software enables clients to quickly determine which ESG subjects have a lot, little, or no influence on the value of the real estate and on society and the environment. Based on this, reporting can be done to shareholders, banks, the government, or the public, in any desired format.’
Central to CSRD is the concept of ‘double materiality’. This means that companies must, on the one hand, look at how they influence the world and, on the other hand, how events in the world affect them. Based on this dual view, they choose subjects for their reporting. These subjects also assist them in drafting their future plans. It is important that different departments within the company collaborate in this.
A significant challenge in all this is collecting the right data. Many companies find it difficult to gather all the necessary information and report according to the new rules. Crucial to this is an objective assessment of exactly which subjects you need to report on, to determine whether this has a lot, little, or hardly any impact on the value of your real estate and on society and the environment.
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