IN-DEPTH UNDERSTANDING AND BACKGROUND
Using sustainability reporting to prepare for the CSRD.
More and more businesses will increasingly have to report on their activities’ impact on the environment and society. Once the Corporate Sustainability Reporting Directive comes into force in 2025, some 50,000 businesses in the EU will have to complete CSRD reporting. Below, we explain what this is and how it affects your business.
What is the CSRD?
The CSRD will replace the EU’s Non-Financial Reporting Directive (NFRD). The NFRD applies to all listed companies, financial institutions and insurance companies, which have to include NFRD reporting in their annual reports.
Who does the CSRD apply to?
The CSRD applies to far more businesses than the NFRD. This new directive specifies how businesses have to report non-financial information. The CSRD report has to be approved by independent auditors. CSRD reporting is compulsory for businesses meeting two of the following three criteria:
- 250 or more employees
- Annual net turnover above €50 million
- Total assets of more than €25 million
Sustainability reporting has to be included in the 2024 annual report, published in 2025.
So give yourself a kick-start to make sure you comply with the CSRD in good time
Download our e-book for a practical guide to help you and your customers and suppliers take the first steps towards a sustainable Supply Chain and comply with the CSRD legislation in good time. Is sustainability still an unfamiliar area for you? This e-book will certainly get you off to a flying start.