10/11/2022
European Parliament has adopted the CSRD directive today!
The new sustainability reporting requirements will increase transparency on environmental, social affairs and governance matters for 50,000 European large firms.
The rules will start applying between 2024 and 2028:
- From 1 January 2024 for large public-interest companies (with over 500 employees) already subject to the non-financial reporting directive, with reports due in 2025
- From 1 January 2025 for large companies that are not presently subject to the non-financial reporting directive (with more than 250 employees and/or €40 million in turnover and/or €20 million in total assets), with reports due in 2026
- From 1 January 2026 for listed SMEs and other undertakings, with reports due in 2027. SMEs can opt-out until 2028
https://www.europarl.europa.eu/news/en/press-room/20221107IPR49611/sustainable-economy-parliament-adopts-new-reporting-rules-for-multinationals
Read more on CSR and sustainability in general here: http://csr-raadgivning.dk/
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All large companies in the EU will need to disclose data on the impact of their activities on people and the planet and any sustainability risks they are exposed to.