ČSOB & Greenometer – How we dealt with double materiality and ESRS data together

ČSOB Headquarters

Objective - As a major financial institution in the Czech Republic, ČSOB faced the challenge of how to effectively and timely meet the requirements of the CSRD directive and European ESRS standards. The key priority was to conduct a thorough analysis of double materiality and set up systematic ESG data collection across the entire organization, taking into account the complex structure of the group and the expectations of the European regulator.

How we helped – A dynamic combination of expertise and technology

• Greenometer team: from day one, we got involved as a partner that can quickly adapt to changing needs. We helped ČSOB to structure stakeholder engagement, prepare a methodology for assessing impacts, risks, and opportunities, and set up processes for validating outputs with management and auditors.

• Greenometer platform: our cloud application enabled dynamic data collection across hundreds of internal and external stakeholders. Thanks to interactive questionnaires, filtering options, and automated reporting, we accelerated the entire process and eliminated data duplication.

• Flexibility in practice: whenever there was a new regulatory interpretation or request from the ČSOB internal team, we were able to immediately adapt the platform and processes—from data structure adjustments to exports for different target groups.

Outcomes – Thanks to its collaboration with Greenometer, ČSOB obtained comprehensive, auditable, and transparent double materiality analysis results that are directly applicable to fulfilling its obligations under CSRD/ESRS. A process that would otherwise have taken months of manual work was cut in half thanks to our platform and the team's dynamic approach. ČSOB not only met legislative requirements, but also established a modern foundation for long-term sustainability management.