CSRD – New Corporate Sustainability Reporting Rules

The Directive on Corporate Sustainability Reporting ("CSRD") has been approved. This new Directive amends the Non-Financial Reporting Directive ("NFRD"), which sets out rules on corporate sustainability reporting.

With the amendment introduced by the CSRD, the scope of the Directive is extended to include:

• Large undertakings not covered by the NFRD¹ – reporting in 2026 in respect of the financial year 2025;
• Small and medium-sized undertakings whose securities are admitted to trading on a regulated market in a Member State – reporting in 2027, in respect of the financial year 2026.
• Non-EU companies that generated a net turnover exceeding EUR 150 million in the European Union, if they have at least one subsidiary or branch in the European Union exceeding certain thresholds – reporting in 2029, in respect of the financial year 2028.