CSRD stands for Corporate Sustainability Reporting Directive and aims to standardize sustainability reporting across environmental, social, and governance (ESG) matters to promote transparency and corporate responsibility. It is a regulatory framework established by the EU, impacting approximately 50,000 companies globally, including those already subject to NFRD (Non-Financial Reporting Directive). The following entities are included:

Companies already subject to NFRD reporting.
Companies meeting two of the following criteria: turnover exceeding €50 million, assets over €25 million, or more than 250 employees.
SMEs listed on a regulated EU market (excluding micro companies): turnover of €900k or more, total assets of €450k or more, or more than 10 employees.
Large non-EU companies: companies with EU revenue exceeding €150 million through a subsidiary or branch located within the European Union.

Timeline

2025: CSRD requirements apply to large EU companies not previously covered by NFRD. Reporting starts for fiscal year 2025, with reports published in 2026.
2026: CSRD requirements extend to listed SMEs, small and non-complex credit institutions, captive insurance undertakings, and large non-EU companies with significant EU revenue. Reporting starts for fiscal year 2026, with reports published in 2027.

Does Coolset support the compliance auditing process?

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Reports generated from the Coolset platform are available in audit-ready formats, including XBRL, PDF, and Word. The platform ensures a full audit trail, allowing auditors to be invited directly to the platform to review the trail, leave comments, and verify the underlying data. This seamless access enables a transparent audit process and simplifies compliance verification.

In addition, Coolset offers access to an auditor network, providing a convenient and efficient way to engage with experienced professionals for assurance on your compliance disclosures. Whether you're preparing for CSRD or other regulatory requirements, this network allows you to connect with auditors who can help ensure the accuracy, integrity, and completeness of your sustainability reporting, giving you confidence in your compliance efforts.

How does Coolset ensure data security and privacy?

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We're ISO 27001 certified, using industry-standard encryption protocols, access controls, and continuous monitoring mechanisms to safeguard your information. We adhere to strict privacy policies and comply with relevant data protection regulations to ensure that your data remains confidential and secure. Learn more at trust.coolset.com.

Are there any other costs involved?

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No, there are no additional costs involved. What you see is what you pay. We never charge for the time we dedicate to supporting our customers.

How does Coolset help reduce carbon emissions?

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Coolset drives measureable reductions through identifying emission hotspots and most emitting vendors deep within your supply chain. Our platform's sustainable alternatives marketplace offers sustainable alternatives to products and services you use today, and provides integrated access to verified Gold Standard emission reduction and removal projects to compensate for any residual emissions.

What are scope 1, 2 and 3 emissions?

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Scope 1 emissions are direct emissions from sources that are owned or controlled by the organization, such as company-owned vehicles and natural gas. Scope 2 emissions are indirect emissions from the generation of purchased electricity, heat, or steam. Scope 3 emissions are all other indirect emissions that are a result of the activities of the organization, but which occur from sources not owned or controlled by the organization, such as employee commuting, software and waste disposal.

Can Coolset help organizations get compliant with CSRD?

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Yes, Coolset enables organizations to achieve CSRD compliance. The platform covers the double materiality analysis, comprehensive ESRS topic disclosures, and the generation of audit-ready, digitally-tagged XBRL reports. Our platform also facilitates access to a trusted auditor network to streamline your assurance and reporting process. Request a call with an expert to learn more.

Does Coolset require any special training or technical skills?

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Coolset's sustainability management platform is user-friendly and does not require any special training or technical skills to use. Nevertheless, our customer success and sustainability research team are happy to support with any questions that might come up.

Are there any setup fees?

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There are no setup fees or hidden charges with any of our account plans. Coolset also never charges for an hour of work we do.

Coolset B.V.
Egelantiersgracht 572
Amsterdam, 1015 RR

Het Ravelijn 50
8233 BR Lelystad

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