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ARTICLE · 13 NOVEMBER 2024

A Step Closer To CSRD's Non-EU Group Reporting Standards

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On 30 October 2024, the Corporate Sustainability Reporting Directive ("CSRD") standards for global groups with a significant European footprint took a notable public step forward. The European Financial

United StatesCorporate/Commercial Law
Rachel E. Lowe
Rachel E. Lowe
John Verwey
John Verwey
Michael Singh
Michael Singh
Frank Zarb
Frank Zarb
Louis Rambo
Louis Rambo
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On 30October 2024, the Corporate Sustainability Reporting Directive ("CSRD") standards for global groups with a significant European footprint took a notable public step forward. The European Financial Reporting Advisory Group's ("EFRAG") Sustainability Reporting Board ("SRB"), who are responsible for overseeing the CSRD reporting standards, met and discussed the non‑EU standards, first in private and then set out the direction of travel in an open, public meeting1 and published draft non-EU Reporting Standards ("NESRS")2.

There has been a trend towards revisiting and assessing the proportionality and appropriateness of the EU Green Deal's requirements on businesses recently and this was captured in the overview provided by the EFRAG SRB on the non‑EU standards. Some notable examples of this trend include:

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