When is reporting under CSRD required?
Compliance against the CSRD is being phased in between 2024 and 2029, based on NFRD legacy or company size. The initial companies will have to comply with the new rules and apply the ESRS for the first time in reports published in 2025 for the 2024 financial year. As well as applying to companies based within the EU, the CSRD extends to non-EU companies, from 2028, that have significant activity within the EU.
The determinants as to when and which companies the CSRD is applicable are complex. It is expected to directly impact up to 50,000 companies within the EU. Even if your organisation does not have direct reporting CSRD obligations, connections (suppliers, investors and customers) in your value chain (upstream and downstream) may require you to provide them information for their disclosure requirements. In the first instance we suggest consulting the scope of the CSRD and seeking expert advice to understand the impact upon your organisation.
