Consumer electronics geared to greater sustainability

Related theme: Sustainable Business Operations

The CSRD is a European directive requiring detailed reporting on environmental, social and governance (ESG) information. Understanding the requirements and the implications for a company and its strategy is a daunting task. Which is why the well-known consumer electronics developer Teufel asked TAUW to help. Teufel's product range includes various audio and hi-fi categories from stereo speakers, home theatre speakers and systems, soundbars and sound decks, to Bluetooth speakers, headphones and PC and multimedia speakers. Teufel not only sells its products in Germany and Austria, but also reaches national markets throughout Europe such as Spain, the Netherlands, Poland, Italy and France

Challenge 

The directive asks companies to be transparent about their performance and their impact on ESG topics. Even if they are not yet fully ready in these areas. Although many, if not all, companies are aware of pending CSRD-compliance requirements, they are often still in the dark about, for example, conducting the double materiality assessment as a key element of the CSRD or determining relevant information and ESG KPIs.

Another complicating factor of this project was that CSRD legislation was still evolving in 2023. That meant that our German TAUW colleagues had to conduct extensive research before and during the project to keep up to date on the amendments with direct project implications and changes.

Solutions

To understand which requirements to meet and which information to consider and prioritise, we conducted a double materiality assessment to show which disclosure requirements are material to Teufel. Subsequently, we carried out a gap analysis and the project team from the client and TAUW were in regular dialogue, framed by several management workshops in Berlin. 

TAUW and Teufel discussed and considered a broader view of sustainability. Over the years, Teufel has built up a solid and trusting partnership with its suppliers, including on-site visits and audits. Considering all sustainability issues in the areas of environment, social and governance, we focused primarily on the relevant sustainability risks and impacts, established in the materiality analysis. This involved looking at the entire value chain to identify opportunities to reduce sustainability impacts. Identifying risks and opportunities and taking appropriate action, such as adapting to climate change, is also part of the process.

Impact

Teufel must be CSRD-compliant in 2026 in order to be able to report on the 2025 business year. By contracting TAUW well in time, Teufel has a clear overview of what to do to become CSRD ready. Sustainability is a global challenge, and Teufel wants to make a difference and position itself in a more holistic, resilient and sustainable way.

The project was a learning experience for the client and for TAUW. Our consultants on this project gained greater knowledge of the CSRD and its strategic implications. By sharing our experiences with colleagues across TAUW countries, we can enhance and expand our CSRD consultancy to more clients.

Partnership

Our Teufel counterparts already had extensive sustainability knowledge and were very motivated to make this project a success. It was clear from the very start of this project that we were likeminded, working together towards a joint goal of becoming more sustainable.