CSRD Compliance for Noordgastransport
Noordgastransport (NGT) is a Dutch company that owns and operates a pipeline network of nearly 500 kilometers in the Dutch North Sea for almost 50 years. NGT operates an open-access system, available to all offshore gas producers on equal and transparent terms. By transforming the existing infrastructure into an integrated offshore hydrogen backbone, they can accelerate the development of green hydrogen through offshore electrolysis.
Challenge
By 2025, NGT must meet the requirements of the new European Corporate Sustainability Reporting Directive (CSRD), which mandates enhanced reporting on ESG matters. With a limited timeframe to comply and the intricate nature of the CSRD, NGT, like many companies, may lack the necessary expertise to ensure full compliance. That’s where Good Growth Collective comes in. We will partner with NGT to overcome these challenges and ensure successful compliance with the new regulations.
CSRD Implementation Phase 1 for NGT
Step 1: Setting up a CSRD-team
The first step in the process is forming a CSRD team. This team is composed of representatives from various departments within the company to ensure a broad and inclusive range of opinions and perspectives.
Step 2: Double Materiality Analysis
- Impact assessment: during the impact assessment potentially relevant sustainability topics are identified for NGT.
- Stakeholder engagement: To incorporate stakeholder opinions, an online survey is sent out. This allows key stakeholders to provide input on what they view as critical sustainability issues.
- Scoring Impacts, Risks, and Opportunities (IRO): For each potentially important topic, the significance is determined based on both impact materiality and financial materiality.
- Materiality matrix: Based on the scores and the established thresholds, a materiality matrix is created, which highlights the material sustainability topics for NGT.
Step 3: Gap Analysis
After identifying the material topics, the next step is to assess which data points are already available and which are missing. The gap analysis identifies any management, data, or disclosure gaps, ensuring that all necessary information is gathered promptly to meet CSRD compliance requirements.
Step 4: Roadmap
The final step involves creating the CSRD Roadmap. The roadmap provides a clear overview of the actions that need to be taken by NGT to meet the compliance requirements. This roadmap serves as the second key deliverable in this process.
Results
- Conducted a comprehensive Double Materiality Analysis that helped NGT identify their most important sustainability topics for impactful CSRD-aligned reporting.
- Engagement of NGT's stakeholders in the journey toward CSRD compliance and the development of future sustainability strategies.
- Streamlined the mapping of internal sustainability data, giving NGT a clear view of CSRD data availability and workload—making their reporting journey easier and more efficient.
*in-person meetings take place in our Amsterdam office on Warmoesstraat 149-151