Ørsted Prepares One Year Ahead of Mandatory CSRD Deadline Through CDP Platform

Danish offshore wind company Ørsted developed sustainability statements aligned with the European Sustainability Reporting Standards in its 2023 annual report, one year before the mandatory CSRD deadline applies. The company's early preparation relied heavily on its CDP disclosure process, which it has engaged with since 2016.

Ørsted's ESRS preparation began in early 2022 following the EU's announcement of the CSRD. The company completed a double materiality assessment based on draft ESRS from November 2022, conducted a comprehensive gap analysis and engaged with industry forums and trade associations. Its cross-functional approach involves the ESG Reporting and Accounting team within finance, the Global Sustainability department, People & Culture for social aspects, and a Regulatory Affairs team to monitor legislative developments.

CDP's climate disclosure framework has been foundational to Ørsted's reporting infrastructure since 2016. The alignment between CDP's evolving questionnaire and emerging ESRS requirements allowed Ørsted to build progressively on its existing data systems. A notable challenge involved measuring biodiversity impacts in marine environments for offshore wind projects, which required the company to develop a new biodiversity measurement framework — an exercise that reflects the additional complexity of ESRS nature-related disclosures compared to earlier climate-only reporting.

Ørsted anticipates that higher-quality ESG data will improve long-term investment planning, facilitate access to sustainable financing and strengthen stakeholder trust. The company encourages other firms to view ESRS not as a compliance burden but as a tool for gaining deeper business insights. Its key recommendations emphasise cross-departmental collaboration, materiality-based prioritisation and early peer benchmarking. Ørsted's sustainability reporting journey, which began with its first report in 2006, provides a model for large renewable energy operators preparing for mandatory disclosure across the EU.

Key figure — ESRS compliance achieved one year before mandatory 2024 CSRD deadline