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ARTICLE · 07 MAY 2024

CSRD Update - Luxembourg Draft Bill For The Transposition Of CSRD

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On 5 January 2023, the Corporate Sustainability Reporting Directive (CSRD) entered into force. The purpose of the CSRD is to extend the scope of application of non-financial reporting.

LuxembourgCorporate/Commercial Law
Siobhán McCarthy
Siobhán McCarthy
Ana Nicoleta Andreiana
Ana Nicoleta Andreiana
Diogo Dias
Diogo Dias
Ionut Florin Stircu
Ionut Florin Stircu
Christophe Boyer
Christophe Boyer
Irina Stoliarova
Irina Stoliarova
Karin Finné
Karin Finné
Noémi Gémesi
Noémi Gémesi

On 5 January 2023, the Corporate Sustainability Reporting Directive (CSRD) entered into force.

The purpose of the CSRD is to extend the scope of application of non-financial reporting and aims to improve the quality, comparability and reliability of sustainability information disclosed by certain EU and non-EU companies who have significant activities in the EU.

EU member states are required to transpose the CSRD into national law by 6 July 2024. As at 31 March, only France, Finland, Romania, the Czech Republic and Hungary had implemented the CSRD into their national law.

The Luxembourg legislation in this respect – draft bill no. 8370 – was introduced by the Minister of Justice before the Luxembourg parliament on 29 March 2024 (the Draft CSR Bill).

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