How CSRD Compliance Software Helped GBL Achieve Audit-Ready Sustainability Reporting with Novisto

Navigating Double Materiality in a Complex Holding Structure

As an investment holding company with a global footprint, GBL faced a massive logistical challenge: preparing for the strict Corporate Sustainability Reporting Directive (CSRD). This required a rigorous Double Materiality Assessment (DMA) executed not just at the parent company level, but across their entire investment portfolio to map out Impacts, Risks, and Opportunities (IROs).

GBL had to transform how they collected data to bridge the massive gap between legacy disclosures and the strict requirements of the European Sustainability Reporting Standards (ESRS). They needed to define clear, organizational-level KPIs while building the rock-solid background documentation required to withstand rigorous external auditor scrutiny.

“If you want to produce CSRD, you will have to go through different steps. There is no way to avoid one step or to try basically to ‘lessen’ the process and the production.”

— François Perrin, Head of ESG, GBL

Robust Software and Structured ESRS Governance

To handle the deep complexity of CSRD implementation, GBL built a comprehensive six-step internal framework. They deployed a dedicated project management team equipped with specialized "ESRS topic leads" (e.g., climate, workforce) alongside cross-functional workstreams tasked with financial data integration and internal data controls.

To anchor this strategy, GBL selected Novisto's ESG data platform to act as its definitive software infrastructure. Novisto consolidated their previously disparate data streams and embedded the internal controls necessary to meet limited assurance standards under one roof.

Why GBL Selected Novisto

• State-of-the-Art Service: Novisto’s hands-on customer success team made onboarding seamless. The platform proved so accessible that an intern was able to configure the environment, import complex gap-analysis data, and run day-to-day operations.
• Centralized Internal Controls: The platform allowed GBL to run automated control checks, providing the company's audit committee with the empirical confidence required to recommend the final report to the board.

Delivering Meaningful Growth & Audit-Ready Disclosures

By matching a clear implementation roadmap with advanced reporting software, GBL efficiently finalized its debut CSRD reporting cycle, yielding powerful organizational results:

• Audit-Ready Disclosures: GBL successfully secured limited assurance from external auditors on all primary sustainability KPIs and supporting documentation.
• Comprehensive Reporting: The team seamlessly generated a 600+ page document: "Delivering Meaningful Growth: Annual Report 2024 - Volume 2 Sustainability Statement," prioritizing user-friendly charts and data tables for clear stakeholder communication.
• Empowered Corporate Governance: The streamlined workflow allowed executives to focus on high-level corporate governance rather than getting bogged down in manual technical checks, keeping the audit committee actively involved in data oversight.

Key Takeaways for ESG Practitioners

François Perrin advises that modern enterprises must treat sustainability reporting with the exact same rigor, workflows, and scrutiny typically reserved for financial reporting.

• Manage Disclosure Risk: Involve your corporate audit committee at every milestone of the DMA process to verify data controls and build internal confidence early.
• Involve Finance Early: The Chief Sustainability Officer (CSO) must collaborate with the finance department from day one. To succeed under CSRD regulations, the sustainability leader must act as an organizational transformation agent, not just a data administrator.