From Compliance to Value - A Case Study of Three Companies' Internal Processes under the CSRD

Raagaard, Otto ; Lo, Thi Phuong Thao ; Bødker, Simone Maj

4. term

Sustaianable Cities, Master

2025

2025-05-28

90

Denne afhandling undersøger, hvordan EU’s Corporate Sustainability Reporting Directive (CSRD) påvirker virksomheders interne bæredygtighedsprocesser, og i hvilken grad rapportering kan bidrage til værdiskabelse for interessenter. Med afsæt i et litteraturreview og et kvalitativt multiple-case-studie af tre danske virksomheder i den tidlige implementering af CSRD kombineres interviews og dokumentanalyse med en konceptuel ramme forankret i institutionel og organisatorisk teori. Ved hjælp af Three Dimension Model og et Value Mapping-værktøj analyseres samspillet mellem tekniske strukturer, interne socio-kulturer og eksterne relationer, når regulatoriske krav omsættes til strategi og drift. Resultaterne peger på, at CSRD er en stærk regulatorisk driver, som fremmer standardisering og transparens, men at meningsfulde forandringer afhænger af internt ejerskab, ledelsesopbakning og interessentinvolvering. På tværs af cases er bæredygtighed forankret i varierende grad; der indfanges allerede værdi især på miljøområdet, men potentialer er fortsat underudnyttede, bl.a. i forhold til ansvar i værdikæden og opmærksomhed på investorer, aktionærer og samfundet. Den løbende reguleringsusikkerhed—illustreret ved Omnibus-forslaget—kan forsinke handling og flytte fokus fra implementering til rapportering, hvilket risikerer at svække dybere indsatser i værdikæden. Afhandlingen konkluderer, at CSRD’s effekt afhænger af, om virksomheder ser direktivet som et minimumskrav eller som en mulighed for at gentænke værdiskabelse for interessenter, miljø og samfund.

This thesis examines how the EU’s Corporate Sustainability Reporting Directive (CSRD) is shaping companies’ internal sustainability processes and whether reporting can create value for stakeholders. Based on a literature review and a qualitative multiple-case study of three Danish companies in the early stages of CSRD implementation, the study combines interviews and document analysis with a conceptual framework grounded in institutional and organisational theory. Using the Three Dimension Model and a Value Mapping Tool, it analyses how technical structures, internal socio-cultures, and external relationships interact as firms translate regulatory requirements into strategy and operations. Findings indicate that while the CSRD is a strong regulatory driver that advances standardisation and transparency, meaningful change hinges on internal ownership, leadership commitment, and stakeholder engagement. Across cases, sustainability is embedded to varying degrees; some value is already captured, particularly in environmental areas, but opportunities remain underused, including gaps in value chain responsibility and limited attention to investors, shareholders, and society. Ongoing regulatory uncertainty—illustrated by the Omnibus Proposal—can delay action and shift focus from implementation to reporting, risking weaker value chain efforts. The thesis concludes that the CSRD’s impact depends on whether companies treat it as a compliance exercise or as an opportunity to rethink value creation for stakeholders, the environment, and society.

[This abstract was generated with the help of AI]

CSRD ; Corporate Sustainability Reporting Directive ; Sustainability reporting ; Omnibus reporting ; Sustainable Value creation ; Institutional theory ; Organisational theory ; Value mapping tool ; Three dimension model ; Case study ; EU directive ; Business Model Innovation for Sustainability ; Sustainable Business ; Compliance

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