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ARTICLE · 09 NOVEMBER 2023

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The EU Corporate Sustainability Reporting Directive (CSRD) – Application From FY 2024

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The application of the European Union's (EU) Corporate Sustainability Reporting Directive (CSRD) is to be phased in from the start of 2024 and will require in-scope companies...

GlobalCorporate/Commercial Law
Harry Keegan
Harry Keegan
Dougall Meston
Dougall Meston
George O'Malley
George O'Malley
Francesca Wilson
Francesca Wilson
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Background

The application of the European Union's (EU) Corporate Sustainability Reporting Directive (CSRD) is to be phased in from the start of 2024 and will require in-scope companies to make disclosures on the risks and opportunities arising from social and environmental issues, and on the impact of their business on people and the environment. The CSRD significantly alters the landscape for corporate sustainability reporting, by requiring in-scope companies to meet prescribed formats of disclosure and reporting standards. In particular, non-EU (including U.S.) corporate groups will need to consider whether they may be captured by the requirements of the CSRD given that disclosure will be required on a consolidated level, covering both EU and non-EU subsidiaries of the non-EU group.

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