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ARTICLE · 20 JUNE 2023

EU's New Mandatory ESG Reporting Rules: Don't Miss Your Chance To Comment

Cooley LLP
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In January 2023, the European Union adopted the Corporate Sustainability Reporting Directive (CSRD), which requires EU and non-EU companies with activities in Europe...

European UnionEnvironment
Emma Bichet
Emma Bichet
Jack Eastwood
Jack Eastwood
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In January 2023, the European Union adopted the Corporate Sustainability Reporting Directive (CSRD), which requires EU and non-EU companies with activities in Europe to file annual sustainability reports. These reports need to be prepared in accordance with European Sustainability Reporting Standards (ESRS).

On June 9, 2023, the European Commission published a draft of the first set of ESRS. The draft runs 247 pages long and includes 12 standards in total: 10 topical standards (summarised below) and two cross-cutting standards that provide more detail on how to prepare the sustainability report.

The draft standards

The table below summarises the 10 topical environmental, social and governance (ESG) standards, each of which sets out the data points to be reported and explains when reporting is mandatory and when it is voluntary.

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