The Corporate Sustainability Reporting Directive (CSRD) is an EU regulation that significantly broadens sustainability reporting requirements for companies. This blog post outlines how hotels can navigate CSRD compliance, enhance their brand reputation, and attract eco-conscious guests and talent.
The CSRD replaces the previous Non-Financial Reporting Directive (NFRD). It mandates that companies include a dedicated sustainability statement in their annual financial report, offering a more complete view of their sustainability performance. This marks a shift from optional to mandatory disclosure of a property's impacts, risks, and opportunities related to sustainability.
Your hotel group falls under CSRD reporting requirements if it meets at least two of these three criteria:
The Corporate Sustainability Reporting Directive (CSRD) requires hotel groups to submit detailed sustainability reports based on the European Sustainability Reporting Standards (ESRS). Here’s when different types of hotel groups must start reporting:
Even if your hotel isn’t immediately in scope, CSRD will impact the wider hospitality sector, as large businesses may require sustainability data from smaller suppliers, including independent hotels. Preparing now can give you a competitive edge.
If there is uncertainty about whether your hotel falls within the scope, consulting with sustainability experts or financial advisors is recommended.
Your report must follow the European Sustainability Reporting Standards (ESRS) and include policies, actions, metrics and targets on:
Alkimii Insights offers powerful data analytics and benchmarking capabilities, helping you navigate the complexities of the Corporate Sustainability Reporting Directive (CSRD) with ease. With intuitive dashboards and comprehensive reporting, Alkimii ensures your organisation remains transparent and compliant. Its features include:
Alkimii Insights provides dynamic, interactive reports and dashboards tailored to meet CSRD requirements. Customisable filters allow you to dive into your data, with key reports including employee summaries, starters and leavers analysis, turnover reports, and detailed pay rate breakdowns.
For legal compliance, the CSRD dashboard includes the pay rate and average yearly rate for every staff member on Alkimii—without exception—making it one of the most sensitive and essential tools for accurate reporting. Scheduled and automated reports can be sent directly to your inbox, ensuring you stay on top of your reporting obligations.
Compare your organisation’s performance against industry standards to identify strengths and weaknesses. The Benchmark Report provides anonymised comparisons on compensation levels, turnover, absenteeism, and pay percentages, giving you a clear understanding of where you stand in the market. This helps you make data-driven decisions while ensuring your pay practices are fair and transparent.
This AI-enhanced feature lets you query your data in plain English, streamlining the decision-making process. From compliance checks to strategic planning, Ask Alkimii empowers you to access the insights you need quickly and efficiently.
Benefits of Using Alkimii Insights for CSRD Compliance:
Practical Steps for Hotels:
1. Materiality Assessment: Identify key ESG topics specific to your hotel, such as energy & water consumption, waste generation, local sourcing, local community engagement, and employee well-being.
Alkimii Insights is more than just a data analytics tool; it's a partner in your sustainability journey.
By providing comprehensive data analytics and benchmarking capabilities, Alkimii Insights ensures that your hotel not only meets CSRD requirements but also enhances its reputation and attracts a new generation of conscious travellers and employees.