Photo by Scott Graham on Unsplash

Navigating CSR Reporting in the EU

Key Takeaways:

1. EU Mandate: EU law requires large and listed companies, including some SMEs, to disclose information about their environmental and social impact to promote transparency and sustainability.
2. CSRD Framework: The Corporate Sustainability Reporting Directive (CSRD), in force since January 5, 2023, broadens the scope of CSR reporting, encompassing more large companies.
3. Expanded Reach: CSR reporting isn’t limited to publicly traded companies; it includes large companies meeting specific criteria, ensuring wider stakeholder access to sustainability information.
4. Transition Period: Companies will implement CSRD rules for the first time in the 2024 financial year, with reports published in 2025, allowing time to adapt to new requirements.
5. Sustainability Standards: Compliance with European Sustainability Reporting Standards (ESRS) is essential for aligning reports with EU policies and international standards. Staying informed about deadlines and regulations is crucial for EHS managers in the EU.

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Part I: The Legal Framework of CSR Reporting in the EU