A new guide, CSRD Essentials, has been released to elucidate the European Union's Corporate Sustainability Reporting Directive (CSRD). This directive, effective from December 2022, mandates extensive sustainability reporting for over 42,500 EU-based companies and thousands more worldwide.
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Developed through collaboration between GRI, MEP Pascal Durand, and the Lefebvre – Sarrut Group, CSRD Essentials offers 11 core briefings in accessible language. It aims to aid policymakers and sustainability reporters in navigating the directive's complexities.
The CSRD requires businesses to report on how sustainability issues impact corporate performance and how their activities affect society and the environment. This directive standardises and expands sustainability reporting requirements, posing challenges for some companies in data collection and reporting.
Read more: Aligning with CSRD: the smart move for future-proofing your business
The directive, part of the European Parliament’s Green Deal, aims to harmonise sustainability reporting standards. The guide facilitates understanding and implementation by bridging the gap between lawmakers and implementers.
Pascal Durand, MEP and CSRD Rapporteur, emphasised the importance of stakeholder engagement to ensure the directive's success. The resource promotes a transparent, fair, and environmentally responsible business model.
Jessica Fries, Chair of the GRI Supervisory Board, highlighted the directive's alignment with global sustainability practices. She noted that the CSRD sets a powerful example for worldwide adoption of comprehensive sustainability reporting.
Key topics in CSRD Essentials include the scope, timing, and interaction with existing standards; the integration of sustainability within annual reporting, promoting digital reporting; legal interconnections, auditing rules, and internal supervision; and provisions for SMEs, with transition periods and simplified standards. Camille Sztejnhorn of Lefebvre Sarrut stressed the guide's unique approach, bridging the gap between rule-setters and implementers.
Read more: Germany streamlines corporate sustainability rules: CSRD implementation welcomed
The launch event, CSRD: Implementation and Beyond, held at the European Parliament, featured discussions on integrating CSRD into national frameworks and its relation to global sustainability standards. Over 100 attendees and 2,000 live stream viewers participated. With contributions from key figures such as Patrick De Cambourg and Sven Gentner, the event underscored the directive's pivotal role in advancing sustainable business practices.
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Learn more about CSRD by downloading our brochure
