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EU | Effective: From 2024 for the financial year 2023

Corporate Sustainability Reporting Directive

Applicable to companies meeting two of the following three conditions: EUR 40 million in turnover, EUR 20 million in assets, or 250 employees. Companies with more the EUR 150 million turnover in the EU. SMEs with securities listed on regulated markets also are liable to the directive.

The newly-adapted directive extends the scope of the 2018 Non-Financial Reporting Directive. The EU legislation requires companies in scope to report their sustainability performance in a standardized digital format, allowing for better comparability between different entities. Given their size, listed SMEs can report using simplified standards that non-listed SMEs are encouraged to use. The CSRD reporting aligns with the EU Taxonomy and the Sustainable Finance Disclosure Regulation.