According to the CSRD,  all large companies will be required to report on sustainability policy and performance from reporting periods starting 2024 onwards.

In April 2021, the European Commission presented the proposal for the Directive, which is an extension of the existing European directive on sustainability reporting: the Non-Financial Reporting Directive (NFRD). NFRD now requires reporting on how large companies deal with issues such as environmental pollution, social responsibility, human rights and diversity.

While the scope of organizations required to report is expanding significantly, it will cover all listed entities, as well as companies that meet two of these three criteria:

• More than 250 employees
• Have a net turnover of more than 40 million Euros per year
• Those who have more than 20 million Euros financially

The Directive aims to improve the quality of information and transparency of companies on sustainability issues and thus support the transition to a sustainable economy following the Paris climate agreement and the EU Green Deal.

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