On 21 April 2021, the EU Commission submitted a draft amendment to the CSR Directive (Corporate Sustainability Reporting Directive). This draft directive represents a significant further development of the previous sustainability reporting.
The EU Commission’s aim is to improve and standardise the transparency of non-financial reporting throughout Europe, because it has been shown that the different facets of the issue of ‘sustainability’ are becoming increasingly important to company stakeholders.
The draft directive will be specified in detail and finalised by mid-2022. The Member States will then have to implement the Directive in national law.
There is an overview of the most important changes in the new draft CSR Directive below:
New Corporate Sustainability Reporting Directive CSRD
Current NFRD 2014/95/EU in the form of the German CSR-RUG
Group of reporting companies:
At least 250 employees
Large companies of public interest with capital market orientation and at least 500 employees
Number of reporting companies
About 15,000 companies
About 550 companies
About 49,000 companies
About 11,600 companies
Date of application
Probably from 1 January 2024 for the 2023 financial year
Since the 2018 financial year
Content reporting obligation
As before, however, supplemented by:
Exclusively in the management report
Management report and / or business report
Audit duty and auditing assurance
Auditing duty, initially with a degree of certainty, later with sufficient certainty
Can be excluded
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