Upright Unveils Innovative Database for Enhanced CSRD Double Materiality Assessments
Upright, a prominent impact data company, has recently unveiled a comprehensive database aimed at enhancing the sustainability practices of over 50,000 companies worldwide. This significant development positions Upright as a leader in providing data-driven solutions that facilitate effective environmental and social governance (ESG), as reported by ESG Today.
New Database for Improved Sustainability Assessment
The launch of this innovative database addresses the pressing challenges that businesses and investors encounter in implementing and utilizing double materiality assessments. These assessments are essential under the European Union’s Corporate Sustainability Reporting Directive (CSRD), which requires extensive reporting on how sustainability issues impact businesses and vice versa.
Advanced Data Solutions from Upright
Upright is widely recognized for its analytical expertise, leveraging a proprietary data engine that integrates information from:
- Over 300 million scientific articles
- Public databases
- Direct data submissions from companies
This multifaceted approach empowers Upright to deliver accurate and actionable sustainability insights to its users.
Key Benefits of the New Database
The newly launched product equips businesses with essential tools for conducting robust, data-driven double materiality assessments. Key advantages include:
- Benchmarking environmental and social impacts against industry peers
- Identifying risks and opportunities to inform strategic decision-making
- Enhancing compliance with CSRD requirements
Investors can also utilize the database to assess sustainability-related risks and opportunities within their portfolios, thereby making informed investment choices.
Response to Regulatory Changes
This database not only streamlines CSRD compliance but also aligns with the latest regulatory updates, including the EU’s Omnibus proposal. This proposal aims to alleviate the reporting burden on companies and modify the scope of entities subject to CSRD regulations, reflecting a significant evolution in the landscape of sustainability reporting.
Comments from Upright’s Leadership
Annu Nieminen, Founder & CEO of Upright, commented on the potential impact of the database, stating: “The EU scaling back sustainability ambitions because traditional, manual approaches to reporting were burdensome misses the point entirely. CSRD’s vision for comparable, decision-useful double materiality data wasn’t flawed – the execution was.”
Nieminen further noted the community’s enthusiasm for the new tool: “CSRD is a huge amount of work that leaves a lot of room for interpretation for companies. There’s a genuine hunger for structured, comparable data.” He emphasized that the database of 50,000 data-driven double materiality assessments will be transformative for businesses seeking clarity in sustainability practices.
For more insights into sustainability reporting and practices, visit our sustainability resources page or explore external resources like World Bank Sustainability.
