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Corporate Sustainability Reporting Directive (CSRD) Adoption in the Nordics: Implementation Strategies, Challenges, and Opportunities

Peschová, Nikol LU and Mammadova, Nushaba LU (2025) BUSN09 20251
Department of Business Administration
Abstract
This thesis investigates how Nordic companies are preparing for and implementing the Corporate Sustainability Reporting Directive (CSRD), a transformative shift in sustainability regulation within the European Union. With a focus on strategy, challenges, and opportunities, the research explores how firms interpret and adapt to the CSRD’s legally binding and standardized reporting requirements. Using a qualitative multiple-case study of 14 Nordic companies and supported by an expert interview, the study examines organizational responses in real time during the first reporting cycle. Findings reveal that firms adopt a range of strategic and operational measures, including the creation of new ESG departments, cross-functional collaboration,... (More)
This thesis investigates how Nordic companies are preparing for and implementing the Corporate Sustainability Reporting Directive (CSRD), a transformative shift in sustainability regulation within the European Union. With a focus on strategy, challenges, and opportunities, the research explores how firms interpret and adapt to the CSRD’s legally binding and standardized reporting requirements. Using a qualitative multiple-case study of 14 Nordic companies and supported by an expert interview, the study examines organizational responses in real time during the first reporting cycle. Findings reveal that firms adopt a range of strategic and operational measures, including the creation of new ESG departments, cross-functional collaboration, and the integration of sustainability into financial systems. Despite notable implementation challenges, such as data availability, double materiality assessments, costs, and regulatory uncertainty, companies also perceive CSRD adoption as an opportunity to enhance transparency, uncover internal inefficiencies, strengthen stakeholder relationships, and improve stakeholder trust, among other benefits. The analysis is framed by institutional, stakeholder, and agency theories, offering a comprehensive lens on how external pressures, internal priorities, and governance dynamics shape sustainability reporting practices. This research provides empirical insights into the early implementation of mandatory ESG disclosure and offers practical implications for firms and policymakers navigating this regulatory transformation. (Less)
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author
Peschová, Nikol LU and Mammadova, Nushaba LU
supervisor
organization
course
BUSN09 20251
year
type
H1 - Master's Degree (One Year)
subject
keywords
Corporate Sustainability Reporting Directive (CSRD), sustainability reporting, mandatory reporting, ESRS, ESG disclosure, sustainability strategy, Nordic companies
language
English
id
9199896
date added to LUP
2025-06-19 14:07:04
date last changed
2025-06-19 14:07:04
@misc{9199896,
  abstract     = {{This thesis investigates how Nordic companies are preparing for and implementing the Corporate Sustainability Reporting Directive (CSRD), a transformative shift in sustainability regulation within the European Union. With a focus on strategy, challenges, and opportunities, the research explores how firms interpret and adapt to the CSRD’s legally binding and standardized reporting requirements. Using a qualitative multiple-case study of 14 Nordic companies and supported by an expert interview, the study examines organizational responses in real time during the first reporting cycle. Findings reveal that firms adopt a range of strategic and operational measures, including the creation of new ESG departments, cross-functional collaboration, and the integration of sustainability into financial systems. Despite notable implementation challenges, such as data availability, double materiality assessments, costs, and regulatory uncertainty, companies also perceive CSRD adoption as an opportunity to enhance transparency, uncover internal inefficiencies, strengthen stakeholder relationships, and improve stakeholder trust, among other benefits. The analysis is framed by institutional, stakeholder, and agency theories, offering a comprehensive lens on how external pressures, internal priorities, and governance dynamics shape sustainability reporting practices. This research provides empirical insights into the early implementation of mandatory ESG disclosure and offers practical implications for firms and policymakers navigating this regulatory transformation.}},
  author       = {{Peschová, Nikol and Mammadova, Nushaba}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Corporate Sustainability Reporting Directive (CSRD) Adoption in the Nordics: Implementation Strategies, Challenges, and Opportunities}},
  year         = {{2025}},
}