Sustainable technology meets wool

Devold and Celsia are partnering to simplify reporting for small and medium-sized enterprises under the EU's sustainability directive.

CSRD (Corporate Sustainability Reporting Directive) is the EU's new directive for sustainability reporting and requires large, listed companies to standardise their sustainability reporting from 2024. Using the Celsia software solution, Devold is implementing CSRD reporting across its entire business.

Although Devold is not yet required to report, the company recognises the importance of standardised sustainability reporting and staying ahead of regulatory requirements. By using the Celsia software solution, Devold is now implementing CSRD reporting across its entire business.

"Devold is acting now to remain competitive in our role as a supplier to larger companies that will face this requirement as early as next year. Aggregated reporting up the supply chain means the entire value chain counts in the final result. We want to be a strategic partner and help our end customers reach their goals," says Trude Ertresvåg, Chief Sustainability Officer at Devold of Norway.

The regulations are part of the EU's action plan for transitioning to a more sustainable economy. The new rules are designed to direct more capital towards companies and activities that address social and environmental challenges, and away from those that make them worse. To achieve this, investors, customers and other stakeholders need accessible, comparable and reliable information.

CSRD is built on the principle of double materiality, considering both how a company affects society and the environment, and how external factors, such as climate change, affect the company.

Devold and Celsia have signed an agreement in which Devold will be particularly involved in the product development of features aimed at small and medium-sized enterprises.

Revolutionising CSRD reporting

"Celsia is designed to be a software solution for all companies seeking to complete accurate and thorough CSRD reporting in an automated and resource-efficient way. Through the partnership with Devold, we are increasing our focus on smaller companies not yet covered by the regulation and accelerating the development of features specifically tailored to them," says Cathrine Dehli, Head of Customer Success & Sustainability at Celsia.

Celsia is already used for EU taxonomy reporting by more than 200 companies. The recently launched CSRD reporting module was developed with Bonheur ASA, GC Rieber and Jordanes as pilot customers, and is one of very few specialised reporting tools built on the requirements and methodology of CSRD. Ertresvåg confirms that using new and specialised technology is a key measure for enabling Devold to report effectively in line with CSRD.

"Voluntarily taking on a reporting task like this requires that we structure the work efficiently and make full use of digitalisation. It also has to deliver value beyond reporting alone if we are to justify the time involved, and good data makes for good management information," says Ertresvåg.

ABOUT CELSIA

Celsia is a Norwegian software company specialising in sustainability reporting solutions in accordance with EU taxonomy, CSRD and SFDR. Their systems have quickly been adopted by a number of companies, including Aker ASA, Bonheur ASA and Summa Equity.

Celsia is already used for EU taxonomy reporting by more than 200 companies. Celsia's recently launched CSRD reporting module was developed with Bonheur ASA, GC Rieber and Jordanes as pilot customers, and is one of very few specialised reporting tools built on the requirements and methodology of CSRD.

ABOUT DEVOLD

Devold of Norway AS is Norway's leading wool clothing brand. Our proud history stretches back to 1853, and our innovative products have been an important part of the kit on many major expeditions, both in Norway and abroad. Under the Devold® brand, we develop and produce base layers, mid layers, outerwear, classic sweaters, socks and other wool accessories.

Devold has its own factory in Lithuania, with responsible production practices, proximity to markets and innovation as core values. Devold's head office is in Langevåg, just outside Ålesund, and the company has a sales subsidiary in Germany.

Devold's production is an open book, and every garment has its own story that you can trace all the way back to the sheep the wool came from. The story takes you from sheep grazing across vast landscapes, through an Oeko-Tex-certified factory in Europe, where the garments are knitted by skilled people working in good conditions. The next chapter takes you to the Sunnmøre Alps and the rugged weather of Sunnmøre, where the garments are tested to ensure they are of high enough quality to keep you warm on any adventure, whatever the conditions. The story from there is yours to write, and Devold garments should not only keep you warm, but be worn with a clear conscience.