EU Corporate Sustainability Reporting Directive

10 Nov 2022

On 10 November, 2022, the European Parliament voted yes to the Corporate Sustainability Reporting Directive (CSRD) proposal.

Over the next two years, the EU and its Members States will take the following actions:

• Member States need to formally transpose the legislation into their national laws within eighteen months after the official publication of the CSRD
• The ESRS first tranche needs to be adopted by the EU Commission by June 30, 2023
• The ESRS second tranche needs to be adopted by the EU Commission by June 30, 2024

Companies should be aware of the following important reporting milestones:

• Large, listed companies need to report sustainability information under the CSRD and ESRS for FY 2024 data
• All large companies need to report sustainability information following the CSRD and ESRS for FY 2025 data
• SMEs need to report sustainability information per the CSRD and ESRS for FY 2026 data