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Corporate Sustainability Reporting Directive In force

Overview

Jurisdiction
European Union
Topic
Sustainability
Instrument type
Directive
Reference number
2022/2464
Valid from
2023-01-05
Valid to
8002-07-13
Modified date
2022-12-16
Listed at
2026-07-30
Withdrawn at
-
Description
The CSRD substantially expands EU corporate sustainability reporting obligations. It requires all large undertakings and all undertakings (except micro-undertakings) with securities listed on EU regulated markets, as well as certain third-country undertakings with significant EU activity, to disclose information on environmental, social, human rights and governance matters based on the double materiality principle. Reporting must follow mandatory European Sustainability Reporting Standards adopted by the Commission via delegated acts, be included in a dedicated section of the management report, be prepared in a single electronic reporting format and be subject to (initially limited) assurance by a statutory auditor or independent assurance services provider. The Directive amends Directives 2013/34/EU, 2004/109/EC, 2006/43/EC and Regulation (EU) No 537/2014, with phased application from financial years starting on or after 1 January 2024.

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Sources

Source URL Crawler Publish date
https://publications.europa.eu/resource/celex/32022L2464 Schokolade

Logs

Type Status Started at Finished at
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Rule sets

Label Effective
Large companies 2025-01-01 — 9999-12-31
Applies from milestone:
Application Start (2025-01-01)
Expires at milestone:
-
Conditions:
Large public-interest companies with more than 500 employees 2024-01-01 — 9999-12-31
Applies from milestone:
Application Start (2024-01-01)
Expires at milestone:
-
Conditions:
Listed small and medium-sized companies other than micro-companies 2026-01-01 — 9999-12-31
Applies from milestone:
Application Start (2026-01-01)
Expires at milestone:
-
Conditions:
Subsidiaries and branches of third-country companies 2028-01-01 — 9999-12-31
Applies from milestone:
Application Start (2028-01-01)
Expires at milestone:
-
Conditions:
Reportable third-country branches 2028-01-01 — 9999-12-31
Applies from milestone:
Application Start (2028-01-01)
Expires at milestone:
-
Conditions:

Questions this regulation asks

Attributes only this regulation asks about — criteria no general attribute expresses. A company answers each once.

This regulation asks no questions of its own — every condition uses a general attribute.

Obligations

Title Kind Rule set
Sustainability reporting in the management report Reporting -
Description:
Companies must include clearly identifiable information in the management report enabling users to understand their impacts on sustainability matters and how sustainability matters affect their development, performance and position.
Frequency:
Annual
Check frequency:
Annual
Products/Services:
Annual and consolidated annual reports of companies; sustainability information on environmental, social, human-rights and governance factors.
Checking responsibility:
Company management and administrative, management and supervisory bodies; where applicable, the statutory auditor or an independent assurance services provider.
Check method:
Check whether the management report contains a clearly identifiable section with the required sustainability disclosures.
Rule set:
-
Source reference:
Article 19a(1)
Source excerpt:
shall include in the management report information necessary to understand the undertaking’s impacts on sustainability matters, and information necessary to understand how sustainability matters affect the undertaking’s development, performance and position.
Value-chain reporting Reporting -
Description:
Companies must, where applicable, report information about their own operations and their entire value chain. During the first three years of application, they must explain missing information, efforts to obtain it, reasons for its absence and future plans.
Frequency:
Annual
Check frequency:
Annual
Products/Services:
Sustainability information concerning own operations, products and services, business relationships and supply chains.
Checking responsibility:
Company management and the relevant administrative, management and supervisory bodies.
Check method:
Review of value-chain disclosures and, where applicable, explanations concerning unavailable information.
Rule set:
-
Source reference:
Article 19a(3)
Source excerpt:
Where applicable, the information referred to in paragraphs 1 and 2 shall contain information about the undertaking’s own operations and about its value chain, including its products and services, its business relationships and its supply chain.
Application of reporting standards Reporting -
Description:
Companies must prepare the required sustainability information in accordance with the applicable sustainability reporting standards.
Frequency:
Annual
Check frequency:
Annual
Products/Services:
Sustainability reporting under the standards adopted by the Commission.
Checking responsibility:
Company management and the audit body or assurance services provider.
Check method:
Compare the reported disclosures with the applicable sustainability reporting standards.
Rule set:
-
Source reference:
Article 19a(4)
Source excerpt:
Undertakings shall report the information referred to in paragraphs 1 to 3 of this Article in accordance with the sustainability reporting standards adopted pursuant to Article 29b.
Engagement with workers’ representatives Stakeholder Engagement -
Description:
Management must inform workers’ representatives and discuss with them the relevant sustainability information and how it is obtained and verified; their opinion must, where applicable, be communicated to the relevant corporate bodies.
Frequency:
Event-triggered
Check frequency:
Annual
Products/Services:
Sustainability information and its identification and verification.
Checking responsibility:
Company management and workers’ representatives.
Check method:
Documented information and discussion with workers’ representatives.
Rule set:
-
Source reference:
Article 19a(5)
Source excerpt:
The management of the undertaking shall inform the workers’ representatives at the appropriate level and discuss with them the relevant information and the means of obtaining and verifying sustainability information.
Electronic reporting format and tagging Record Keeping -
Description:
Companies must prepare the management report in the specified electronic reporting format and digitally mark up their sustainability reporting, including taxonomy disclosures.
Frequency:
Annual
Check frequency:
Annual
Products/Services:
Management reports and sustainability reporting.
Checking responsibility:
The company’s administrative, management and supervisory bodies.
Check method:
Check the electronic reporting format and digital tagging of sustainability disclosures.
Rule set:
-
Source reference:
Article 29d(1)
Source excerpt:
Undertakings subject to the requirements of Article 19a of this Directive shall prepare their management report in the electronic reporting format specified in Article 3 of Commission Delegated Regulation (EU) 2019/815 and shall mark up their sustainability reporting
Publication of sustainability reports Reporting -
Description:
Covered companies must publish the management report. Subsidiaries and branches of third-country companies must publish and make accessible the sustainability report, assurance opinion and, where applicable, statement of unavailable information within twelve months.
Frequency:
Annual
Check frequency:
Annual
Products/Services:
Management report, sustainability report, assurance opinion and, where applicable, statement of unavailable information.
Checking responsibility:
The company; for third-country companies, the subsidiary or branch.
Check method:
Check publication within twelve months after the balance-sheet date and public accessibility.
Rule set:
-
Source reference:
Article 40d(1)
Source excerpt:
shall publish their sustainability report, together with the assurance opinion and, where applicable, the statement mentioned in the fourth subparagraph of Article 40a(2) of this Directive, within 12 months of the balance sheet date
Assurance of sustainability reporting Approval -
Description:
Companies must, where applicable, obtain an assurance opinion on compliance with the Directive, reporting standards, the process for identifying reported information, digital tagging and taxonomy disclosures.
Frequency:
Annual
Check frequency:
Annual
Products/Services:
Company sustainability reporting subject to assurance.
Checking responsibility:
Statutory auditor, audit firm or independent assurance services provider.
Check method:
Limited assurance by a statutory auditor, audit firm or accredited independent assurance services provider.
Rule set:
-
Source reference:
Article 34(1), second subparagraph, point (aa)
Source excerpt:
where applicable, express an opinion based on a limited assurance engagement as regards the compliance of the sustainability reporting with the requirements of this Directive

Measures

No measures.

Penalties

No penalties.

Milestones

Date Type Description
2022-12-14 Adopted Adoption of the Directive amending the rules on corporate sustainability reporting.
Source reference:
Final paragraph before Article 1
Source excerpt:
Done at Strasbourg, 14 December 2022.
2024-01-01 Application Start Application begins for large public-interest undertakings and parent undertakings of large groups exceeding 500 employees.
Source reference:
Article 5(2)(a)
Source excerpt:
for financial years starting on or after 1 January 2024
2024-01-01 Application Start Application starts for certain large companies and parent companies of large groups with more than 500 employees.
Source reference:
Article 5(2)(a)
Source excerpt:
for financial years starting on or after 1 January 2024:
2024-06-30 Other Deadline for adopting the first sustainability reporting standards and standards for third-country companies.
Source reference:
Article 29b(1)
Source excerpt:
by 30 June 2023, specify the information that undertakings are to report
2024-07-06 Transposition Deadline Deadline for Member States to transpose Articles 1 to 3.
Source reference:
Article 5(1)
Source excerpt:
Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with Articles 1 to 3 of this Directive by 6 July 2024.
2025-01-01 Application Start Application starts for other large companies and parent companies of large groups.
Source reference:
Article 5(2)(b)
Source excerpt:
for financial years starting on or after 1 January 2025:
2026-01-01 Application Start Application starts for certain non-micro SMEs that are public-interest entities and for certain small non-complex institutions and captive insurance and reinsurance companies.
Source reference:
Article 5(2)(c) of Directive (EU) 2022/2464
Source excerpt:
for financial years starting on or after 1 January 2026
2026-01-01 Application Start Application begins for listed SMEs, certain small and non-complex institutions, and captive insurance and reinsurance undertakings.
Source reference:
Article 5(2)(c)
Source excerpt:
for financial years starting on or after 1 January 2026
2026-01-01 Application Start Application starts for certain small and medium-sized companies that are not micro-companies, and certain institutions and insurance companies.
Source reference:
Article 5(2)(c)
Source excerpt:
for financial years starting on or after 1 January 2026:
2026-06-30 Other Deadline for adopting sustainability reporting standards for small and medium-sized companies.
Source reference:
Article 29c(1)
Source excerpt:
The Commission shall, by 30 June 2024, adopt delegated acts in accordance with Article 49 supplementing this Directive to provide for sustainability reporting standards proportionate and relevant to the capacities and the characteristics of small and medium-sized undertakings and to the scale and complexity of their activities.
2026-10-01 Other Deadline for adopting limited assurance standards for sustainability reporting.
Source reference:
Article 26a(3)
Source excerpt:
The Commission shall, no later than 1 October 2026, adopt delegated acts in accordance with Article 48a in order to supplement this Directive in order to provide for limited assurance standards
2028-01-01 Application Start Application starts for the provisions on sustainability reports concerning subsidiaries and branches of third-country companies.
Source reference:
Article 5(2), third subparagraph
Source excerpt:
Member States shall apply the measures necessary to comply with point (14) of Article 1 for financial years starting on or after 1 January 2028.
2028-10-01 Other Deadline for adopting reasonable assurance standards for sustainability reporting.
Source reference:
Article 26a(3)
Source excerpt:
The Commission shall, no later than 1 October 2028, adopt delegated acts in accordance with Article 48a in order to supplement this Directive in order to provide for reasonable assurance standards

Linked regulations

Type Regulation
Amends Regulation (EU) No 537/2014
Amends Directive 2004/109/EC
Amends Directive 2006/43/EC
Amends Directive 2013/34/EU
Cites Regulation (EU) 2019/2088
Cites Regulation (EU) 2020/852
Cites Regulation (EU) 2021/1119
Cites Commission Delegated Regulation (EU) 2019/815