CSRD In Practice: How Will It Affect Your Organisation?

The European Union's Corporate Sustainability Reporting Directive (CSRD) was adopted in December 2022 and will apply from 2024 onwards. It forms part of legislative measures under the New European Green New Deal and seeks to enhance requirements for corporate sustainability reporting. The CSRD expands on the Non-Financial Reporting Directive (NFRD) and aims to make sustainability reporting far more consistent and transparent across all businesses.

It addresses shortcomings of the NFRD by introducing mandatory third-party independent assurance of reported information, and more detailed requirements including reporting in the management report, digital tagging of the reported data, and establishing standard reporting requirements. While the NFRD applied to large public interest entities having more than 500 employees, the CSRD widens the scope to affect 49,000 companies across the EU directly, as well as several thousands of other entities forming part of their value