Back to overview

Corporate Sustainability Reporting Directive

}

Summary

On January 5, 2023, the Corporate Sustainability Reporting Directive (CSRD) came into effect, introducing updated regulations for companies to report social and environmental information. Approximately 50,000 companies, including a broader range of large companies and listed SMEs, will be required to report on sustainability. The new rules aim to enhance transparency and provide investors and stakeholders with the necessary information to assess investment risks related to sustainability issues. By harmonizing reporting requirements, the directive aims to reduce reporting costs for companies in the long term. The European Sustainability Reporting Standards (ESRS), developed by the independent body EFRAG, will serve as the reporting framework, aligning with EU policies and international standardization efforts. Companies will need to apply these standards starting from the 2024 financial year. The CSRD also mandates sustainability information audits and promotes the digitalization of sustainability reporting. Public feedback on draft standards is being sought, with the final standards to be submitted for scrutiny by the European Parliament and Council.

Thumbnail image for On January 5, 2023, the Corporate Sustainability Reporting Directive (CSRD) came into effect, introducing updated regulations for companies to report social and environmental information. Approximately 50,000 companies, including a broader range of large companies and listed SMEs, will be required to report on sustainability. The new rules aim to enhance transparency and provide investors and stakeholders with the necessary information to assess investment risks related to sustainability issues. By harmonizing reporting requirements, the directive aims to reduce reporting costs for companies in the long term. The European Sustainability Reporting Standards (ESRS), developed by the independent body EFRAG, will serve as the reporting framework, aligning with EU policies and international standardization efforts. Companies will need to apply these standards starting from the 2024 financial year. The CSRD also mandates sustainability information audits and promotes the digitalization of sustainability reporting. Public feedback on draft standards is being sought, with the final standards to be submitted for scrutiny by the European Parliament and Council.
Issuer

European Union (EU)

Year

2022

Region

International

Issuer (type)

European Parliament (Region)

Policy Type

Disclosure

Geographical scope

Regional

Mandatory or voluntary

Mandatory


Global Reporting Initiative (GRI)
  • Other
Main industries targeted
  • Finance & Insurance
  • Professional, Scientific, & Technical Services
  • Mining, Quarrying, Oil & Gas Extraction
  • Public administration
Restrictiveness

Moderate

Sustainable Development Goals (SDGs)
  • SDG 4: Quality Education
  • SDG 12: Responsible Consumption and Production

We have sent you the download link, please check your inbox.

Download again

Something went wrong when trying to download this file.

Try again