INSIGHT #3
Sustainability budgets are expanding to meet EU CSRD compliance
KEY FINDING
Most respondents plan to increase their spending over the next 12 to 24 months.
Planned budget increases to align with EU CSRD compliance
Most respondents have increased their sustainability budgets, focusing on tools and consulting services to improve data collection, reporting, and meet EU CSRD requirements. This may also suggest they’re directing funds toward product development, staffing, training, and research in order to adapt their business and strategy to the new requirements.
How companies are budgeting for EU CSRD compliance
Specific budget has been allocated and spent for new data collection and reporting requirements
Working within existing budgets to address data collection and reporting
Attempting to convince decision-makers for budget
No budget has been allocated currently
Sustainability budgets are increasing, with most within two years
All respondents are planning to increase their sustainability budgets, with many already making key investments and implementing software over the next 12 months—with a significant 95% expect budget increases within the next two years.
Breaking from typical technology adoption curves, no respondents are holding back on investment.
Timeline for planned sustainability budget increases
Within the next 1-12 months
In 12-24 months
In 2-3 years
I am not planning to increase spending
