CSRD Implementation In Belgium: Key Changes And Omnibus Effects

On 28 November 2024, the Belgian Parliament finally approved the legislation on the disclosure of sustainability information by certain companies and groups, transposing the EU Corporate Sustainability Reporting Directive (CSRD) into Belgian Law. The transposition comes roughly 5 months after the official deadline for member states to implement the CSRD Directive into national law. Belgium and 16 other EU-member states including the Netherlands, Germany, Luxembourg, and Spain, were even reprimanded by the European Commission for not meeting the 6 July 2024 deadline. The CSRD Implementation Act was published in the Belgian State Gazette on 20 December 2024 and entered into force on 30 December 2024.