CSRD Compliance for YourSurprise
YourSurprise was founded in 2005 by Gerbrand and Wouter (and later by Arne) and began as a company of childhood friends who wanted to build a company that helps people create meaningful moments. Since day one, their mission has been to spread a little happiness through the personalization of gifts. After almost 20 years, YourSurprise and its gifts spread a little happiness to 28 countries every single day. Customers can now choose from over 2500 gifts, all of which can be personalized with a photo, text or logo. Today, around 300 colleagues work under the same roof of the campus in Zierikzee.
Challenge
With the 2025 deadline approaching, YourSurprise must adhere to the new European Corporate Sustainability Reporting Directive (CSRD). This directive revises and strengthens the rules around ESG reporting, and YourSurprise now faces a limited period to align with these requirements. The complexity and novelty of the CSRD present a challenge for many businesses. Good Growth Collective offers the expertise and resources to help YourSurprise navigate these challenges and achieve full compliance with the CSRD.
CSRD Implementation Phase 1 for YourSurprise
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 YourSurprise.
- 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 YourSurprise.
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: CSRD Roadmap
The final step involves creating the CSRD Roadmap. This roadmap outlines the necessary next steps for YourSurprise to gather all the required data for CSRD compliance. The roadmap provides a clear overview of the actions that need to be taken to meet the compliance requirements. This roadmap serves as the second key deliverable in this process.
Results
- Double Materiality Assessment (DMA) and identification of the material sustainability topics that are most important for YourSurprise's CSRD report
- Engagement of YourSurprise's stakeholders in the trajectory towards CSRD compliance and future development of sustainability strategies
- GAP identification of the important data points and disclosure requirements for which YourSurprise has to collect data and set policies, action plans and targets
- CSRD roadmap for the next steps towards CSRD compliance and sustainability
*in-person meetings take place in our Amsterdam office on Warmoesstraat 149-151