Understanding your obligations under the CSRD is crucial for several reasons:
Legal Compliance: Non-compliance with CSRD can result in legal repercussions, including fines and reputational damage.
Transparency: Accurate and comprehensive reporting enhances your company’s transparency, fostering trust among stakeholders.
Internal Engagement: Reporting obligation can help to mobilize the appropriate resources for the project
Sustainability Leadership: Proper reporting positions your company as a leader in sustainability, aligning with global trends toward more responsible business practices.
Key Elements to Understand
Key Elements to Understand
Before diving into how to check your obligations, it’s important to understand the key elements of the CSRD:
Scope of Reporting: Identify which activities within your company need to be reported. The CSRD applies to a wide range of activities, including environmental impact, social responsibility, and governance practices.
Reporting Period: Understand the reporting periods required under CSRD to ensure timely submissions.
Eligibility rules summary
Eligibility rules summary
Following initial waves of regulatory obligations, the CSRD was revised, and the Omnibus Directive (February 2025) revised the proposal to grant more time to certain companies. Here are the new key dates:
Wave 1: Large companies already covered by the NFRD (2025, 2024 data)
Wave 2: Large companies not covered by the NFRD, listed SMEs, and subsidiaries of non-European companies are not required to report until 2028.
On the other side, a voluntary simplified framework (VSME) has also been created for unlisted SMEs, with no audit or dual materiality analysis required.