Sixty spreadsheets, no controls.
Kestrel generates and distributes power for 1.1 million customers in three countries. Its first CSRD report was due in 14 months, yet emissions data lived in 60 spreadsheets owned by different teams, none of them reviewed.
- 60spreadsheets holding ESG data
- 14moto the first CSRD report
- 0controls over sustainability data
The finance team had never been asked to sign off sustainability figures, and the auditor had warned that it would test them with the same rigour as the financial statements. At the same time, Kestrel’s lenders wanted a transition plan with real capital numbers behind it before refinancing $250M of debt.
The board asked for one programme that would satisfy the auditor, the regulator and the banks — without building three separate reporting teams.
Report, control, then commit.
We ran the programme with Kestrel's CFO and head of sustainability, reporting to the audit committee every quarter.
- 01
Decide what matters
A double materiality assessment with 40 stakeholder interviews narrowed 90 possible topics to 14 the report had to cover.
- 02
Build data people can sign
We replaced the spreadsheets with one data model, 46 documented controls and a monthly close for emissions data.
- 03
Cost the transition
We modelled abatement options plant by plant and gave the board a capital plan with a 2030 target it could defend.