Firms keep quiet on positive impacts in latest CSRD reports

Vestas and Tryg are among those to make more modest claims this time around 

There are signs that companies are reining in their impact claims under the EU Corporate Sustainability Reporting Directive (CSRD). 

A number of firms have now published their second reports under the rules, but the number of positive environmental and social claims being made has tumbled.   

Danish insurer Tryg was one of the first out of the blocks with its sustainability statement this year.   

In its last report, it identified five positive impacts, including its ability to have a “positive impact on climate change by including prevention measures in product offerings”. 

“By preventing claims from happening in the first place or minimising any damage or loss that might occur, Tryg can positively impact the number and size of claims and thereby reduce the climate impact and resource use from replacing broken or stolen items,” it suggested. 

This year, it removed all those claims. 

Louise Rosenmeier, a senior ESG manager at the firm, said the decision came on the back of clearer guidance from supervisors, as well as Tryg’s own updated double materiality assessment.  

“It became clear to us that most of the previously-identified positive impacts were more in the nature of being mitigation actions rather than contributing with additionality,” she told Real Economy Progress.  

The EU’s advisory body, EFRAG, provided updates explaining that positive impacts should not be confused with reducing negative ones, following concerns raised by observers including French supervisor AMF. 

Last year, German construction firm Hochtief identified more than 50 positive impacts, while Aluminium producer AMAG Austria Metall took credit for nearly 30.   

At the time of writing, 12 companies had published their second CSRD reports, and seven of those had reduced the number of positive impacts they claimed their businesses had on sustainability objectives. 

None had increased them. 

Danish wind giant Vestas has cut its disclosed positive impacts by more than half, from 12 in 2025, to just five. All are now linked to governance – tax, ethical behaviour etc – rather than environmental or social performance.   

Fellow renewables giant Ørsted reported six positive impacts this year, instead of seven, having seemingly combined its contribution to job creation with its impact on local community infrastructure this time around, under “improved community socio-economic well-being”. 

Carlsberg maintained its positive impact claims around water, but ditched the ones it had previously made on promoting healthy work-life balance, and linking executive pay to ESG performance. 

Drug maker Novo Nordisk ditched two positive impacts related to equal treatment and staff perks for its workforce.