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Sustainability

Sustainability reporting
amendment to the CSR Directive

Sustainability reporting –
amendment to the CSR Directive

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:

Consulting Do you want free consulting or do you have any questions about sustainability? We’ll be pleased to help.
  • Your contacts:
  • Andreas Wiedmann
  • Tel: +49 711 1646-858
  • E-Mail: andreas.wiedmann@bansbach-gmbh.de
 

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

in Germany

About 15,000 companies

About 550 companies

in Europe

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:

  • Double materiality, i.e. stronger connection of the effects of sustainability aspects on the net assets, financial position and results of a company’s operations
  • Information about intangible assets
  • Environmental issues
  • Employee matters
  • Social matters
  • Respecting human rights
  • Fighting corruption

Localisation

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

Free consulting

Do you want free consulting or do you have any questions about sustainability reporting? We’ll be pleased to help.

Get in touch now

 

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