Corporate Sustainability Reporting Directive & European Sustainability Reporting Standards
The EU Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) are reshaping how companies report sustainability information for investors, stakeholders, and regulators.
At a Glance
- CSRD radically expands the number of companies that must publish detailed sustainability information in the EU.
- Reports must follow the ESRS, a comprehensive set of topic-specific standards covering environmental, social, and governance matters.
- Double materiality—impacts on people and the environment, and financial materiality—is central to how topics are selected and reported.
- Sustainability information is moving under assurance, starting with limited assurance and potentially increasing over time.
Who is in Scope?
CSRD applies to large EU companies meeting set size criteria, listed SMEs with phased application and some flexibility, and certain non-EU parent companies with substantial EU activity. For each group, the exact timing and detailed thresholds matter, so companies should confirm their status early and plan accordingly.
Key Deadlines
FY 2024
First wave: large public-interest entities already reporting under previous NFRD rules.
FY 2025
Other large EU undertakings meeting CSRD size thresholds.
FY 2026
Listed SMEs (with possible opt-out until 2028).
FY 2028
Non-EU parent companies with substantial EU activity.
Core Reporting Requirements
- How sustainability risks, opportunities, and impacts connect to strategy and resilience.
- Roles and responsibilities of boards and management over sustainability matters.
- Identification, assessment, and prioritisation across the value chain.
- Topic-specific metrics and targets across environmental, social, and governance ESRS standards.
What Companies Should Do Now
- 1Confirm whether and when your group comes into scope for CSRD.
- 2Map your current reporting against ESRS requirements to identify gaps.
- 3Run or refresh a double-materiality assessment.
- 4Prioritise initial focus topics based on materiality and feasibility.
- 5Define an internal project structure and governance for CSRD implementation.
- 6Engage external advisors and assurance providers where needed.
Comprehensive sustainability reporting covering environmental, social, and governance topics under double materiality
Official Resources
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