The Commission consultation on CSRD Level 2 measures, detailing
the sustainability reporting standards for in-scope companies,
closed on 7 July 2023.
Level 2 will be finalised in the coming months, ahead of its
first application on 1 January 2024 for companies subject to the
previous EU sustainability reporting regime under the Non-Financial
Report Directive.
CSRD compliance plans are advancing however, a fundamental first
step is determining the scope of these obligations. A potentially
challenging task requiring careful consideration given the
expansive scope of CSRD and the complex nature of the governing
legislative provisions.
Summarised below are the key categories of companies in scope of
the CSRD, along with the thresholds, possible exemptions, and
relevant deadlines for reporting using the Level 2 standards. CSRD
is principally applicable to limited liability companies although
there are some exceptions to this rule (e.g., for credit
institutions and
