On 28 November, the Council approved the text of the Corporate Sustainability Reporting Directive (CSRD).
The application of the regulation will take place in four stages:
- reporting in 2025 on the financial year 2024 for companies already subject to the Non-Financial Reporting Directive (NFRD);
- reporting in 2026 on the financial year 2025 for companies that are not currently subject to the NFRD;
- reporting in 2027 on the financial year 2026 for listed SMEs except micro undertakings, small and non-complex credit institutions and captive insurance undertakings;
- reporting in 2029 on the financial year 2028 for third-country undertakings.
Latest developments:
The European Parliament (EP), during its plenary session (9-10 November) adopted the agreement of the interinstitutional negotiations on the CSRD.
Next steps:
- The text will be signed by the President of the EP and the President of the Council.
- It will be published in the Official Journal of the European Union and will enter into force 20 days after its publication.
- The new rules of the CSRD will need to be implemented by member states 18 months later.
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