The EU Council adopted the Corporate Sustainability Reporting Directive (CSRD) on 28 November 2022. This marks the final stage in the introduction of more detailed ESG reporting requirements for large or listed companies in the EU.
Undertakings within the scope of CSRD will have to report on sustainability matters such as environmental risks, social rights, human rights, and governance factors. The new rules will replace and broaden the rules introduced by the Non-Financial Reporting Directive (NFRD).
The application of the new reporting rules will take place in four stages:
- 2025 (reporting on 2024): large European public-interest entities with more than 500 employees and large listed third-country undertakings with more than 500 employees;
- 2026 (reporting on 2025): other large European undertakings and other large listed third-country undertakings;
- 2027 (reporting on 2026) (with two years opt-out possibility): listed medium-sized enterprises (except micro undertakings), and small and non-complex credit institutions and captive insurance undertakings; and
- 2029 (reporting on 2028): certain other third-country undertakings.
For more information, see the links below. In addition, our clients have exclusive access to the Eubelius presentation on CSRD through our Client Zone.