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ARTICLE · 16 DECEMBER 2022

The Corporate Sustainability Reporting Directive Countdown: Seven Questions

Crowell & Moring LLP
Crowell & Moring LLP
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On 28 November, the European Union adopted the Corporate Sustainability Reporting Directive (hereafter: "CSRD"), succeeding the Non-Financial Reporting Directive (hereafter: "NFRD")...

GlobalCorporate/Commercial Law
Frederik Van Remoortel
Frederik Van Remoortel
Sakine Yilmaz
Sakine Yilmaz
Andrew Blasi
Andrew Blasi

On 28 November, the European Union adopted the Corporate Sustainability Reporting Directive (hereafter: “CSRD”), succeeding the Non-Financial Reporting Directive (hereafter: “NFRD”) and ushering in the next era of sustainability reporting. Here are seven questions and responses to help your company prepare in the countdown to CSRD implementation.

1. What are the main objectives of the CSRD? 

The CSRD's journey began in 2020, when the EU Commission launched a thorough revision process of the NFRD in order to notably:

  • Expand the number of companies that are subject to corporate sustainability reporting obligations; 
  • Extend the scope of reported information to include all three Environmental, Social, Governance, or ESG, factors; and 

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