Corporate sustainability reporting: CSRD


2022-12-26T12:34:00
European Union

The European Union is reinforcing companies’ reporting obligations on ESG matters, promoting data transparency and comparability. 

Corporate sustainability reporting: CSRD
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December 26, 2022

On December 16, Directive (EU) 2022/2464 (“CSRD”) was published, amending Regulation (EU) 537/2014, as well as Directives 2004/109/EC, 2006/43/EC, and 2013/34/EU, to address perceived deficiencies in non-financial reporting and expand the range of entities required to report sustainability information.

>    It aims to place sustainability reporting on par with financial reporting over time, allowing public access to reliable and comparable data.

>    An electronic format will be mandatory, as will the use of common standards in the reporting of information, which should expedite small and medium-sized enterprises’ (“SMEs”) compliance. These standards will be based on the work carried out by the European Financial Reporting Advisory Group (“EFRAG”), which, on November 22, published the first set of standards.

>     The date by which reporting under the CSRD will be required depends on the company's type, with listed companies among the first, in 2025, by reference to the 2024 fiscal year.

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December 26, 2022