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Corporate Sustainability Reporting Directive (CSRD)

The European Union

Large EU companies and listed companies operating in the EU must publish annual reports in which they report on how sustainability matters impact their business and how their operations are impacting people and the environment. Companies must carry out a “double materiality” assessment to identify material topics, must follow the European Sustainability Reporting Standards (ESRS) and implement third-party assurance of their reporting.

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  • Current Version: 2023
  • First Published: 2023
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About

Name Corporate Sustainability Reporting Directive (CSRD)
Owner(s) The European Union
First Published 2023
Current Version Published 2023
Regulation Date of Enforcement 2023-01-05
Licensing Terms N/A
Membership/Participation Fee Login to view Lorem ipsum dolor sit amet, consectetur adipiscing elit. Morbi elementum vestibulum lobortis.  
Members List Login to view Lorem ipsum dolor sit amet, consectetur adipiscing elit. Morbi elementum vestibulum lobortis.  
Number of Participants N/A
Applicable Size of Entity Large

Regulation Details

Mandatory/Voluntary Status Mandatory
Nexus Economic
Entities Covered For-profit companies
Key Requirements External Reporting, Supply Chain Mapping, Third Party Assurance, ESG Risk Analysis
Compliance Criteria Number of employees, Turnover
Turnover Threshold €40 million for EU-based companies; for non-EU-based companies €150 million revenue within the EU over the last two financial years where they have an EU-based subsidiary, or when one of their EU branches' turnover exceeds €40 million within the last financial year.
Due Diligence Audits, Public disclosure, Risk assessment, Monitoring
Import Declarations None
Penalty Type None
Enforcement Timeline Not specified.
Penalties None.

Governance

Scheme Holder Type Government(s)
An entity comprising representatives from one or more national governments or a supranational organisation, such as the EU, that directly sets laws applicable in its jurisdiction.
Core Focus Regulation
A body of law passed by a national government, or by a supranational organisation such as the EU.
Claim Type No claim type

Assurance

Verification Requirement Independent 3rd Party
Verification Frequency Every 6 years
Additional Verification Login to view Lorem ipsum dolor sit amet, consectetur adipiscing elit. Morbi elementum vestibulum lobortis.  
Assessor Qualifications Training
Public Audit Reporting Partial
Applicability Corporate-level
Assurance Notes

Under the CSRD, the statutory auditor of the company may provide the sustainability assurance. However, member states have the option to allow independent assurance service providers to perform this task.