Gap Analysis identifies discrepancies between current performance and desired goals, focusing on compliance with different standards such as CSRD, Ecovadis, etc.
The Gap Analysis is a strategic process to identify the gaps between the ESG data that a company is already collecting and reporting, and the CSRD disclosure requirements. The Gap Analysis can be seen as a compass that guides companies through the uncharted waters of sustainability reporting, helping them navigate from their current position to the desired state of full compliance with CSRD.
It is worth mentioning that the Gap Analysis is not a mere formality, it is a foundational step toward a comprehensive and compliant report. Neglecting to perform a Gap Analysis in the initial stages could unnecessarily complicate and prolong the data collection process.
There are several objectives rooted in its very definition:
Wequity’s tool enables you to automate the direct identification of gaps between existing reporting/policies documents a company has, and the required ESG data points (qualitative and quantitative).
This enables ESG consultants to focus on strategic added value, interpretation of the results, and accompanying the clients with the processes and data collection to be compliant. This way you can bring competitive prices to the market, and onboard more clients.