Sustainability now: Insights from the first CSRD reports

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May 1, 2025

Nadja Picard, PwC’s Global Reporting Leader, guides organizations in transforming corporate reporting for greater transparency. In this insightful discussion, she delves into key findings from over 250 reports submitted under the EU's Corporate Sustainability Reporting Directive. Expect to hear about the emerging trends in disclosures, industry-specific reporting quirks, and the growing importance of topics like climate change and cybersecurity. Nadja also emphasizes the need for proactive strategies as companies prepare for evolving sustainability regulations.

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INSIGHT

Impact and Risk Reporting Range

Companies report highly variable numbers of impacts, risks, and opportunities, ranging from 10 to over 120 metrics.
Reporting more items does not necessarily equal better sustainability statements; business complexity explains differences.

INSIGHT

Sector-Specific Reporting Patterns

Sector patterns emerge, e.g., few TMT companies report biodiversity or pollution, while industrial and services companies report these more.
Health and safety disclosures vary widely by sector, reflecting differing operational risks and regulatory integration.

INSIGHT

Entity-Specific Disclosures Insights

About 20% of companies included entity-specific disclosures on cybersecurity, reflecting investor concerns.
Few companies reported on AI and tax entity-specific issues, indicating early-stage or cautious reporting.

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As the first wave of companies report under the EU’s Corporate Sustainability Reporting Directive (CSRD), PwC analyzed corporate sustainability statements. In this week’s podcast, host Heather Horn welcomes back Nadja Picard, PwC’s Global Reporting Leader, to dive into the key findings from more than 250 published reports. They explore emerging trends, surprising gaps, and what these insights mean for companies yet to report.

In this episode, we discuss:

01:47 – Overview of PwC’s analysis of 250+ CSRD reports
04:29 – Key findings: variability in disclosures and early trends
08:49 – Most common material topics and sector-specific patterns
18:35 – Entity-specific disclosures: cybersecurity, AI, and tax
24:44 – Climate reporting practices and assurance observations
33:26 – Practical guidance for companies preparing to report under CSRD

For more on PwC’s analysis of 250 corporate sustainability statements, see our publication In search of sustainable value: The CSRD journey begins.

Looking for more on the investor survey referenced in today’s podcast? Check out PwC’s 2024 Global Investor Survey and PwC’s global investor survey: What’s top of mind for 2025?

About our guest

Nadja Picard is PwC’s Global Reporting Leader. In this role, she leads PwC’s global initiative to help clients transform their corporate reporting to meet investor and stakeholder demands for trusted and assured reporting beyond financial reporting. Nadja also advises companies on the accounting, corporate reporting, and investor relations requirements in advance of capital markets transactions, especially IPOs.

About our host

Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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