Broad and covers a large number of companies operating in the European Union. Its effects extend not only to companies established in the EU, but also to those located outside the region, directly or indirectly, through competition and the value chain. Thanks to the implementation of the new CSRD, it is expected that around 49,000 European companies or companies governed by EU legislation will be required to report on sustainability, instead of the 11,700 that do so currently. The CSRD applies to the following companies: All listed European companies (except micro-enterprises). All large companies established in an EU Member State or governed by EU law, including those already governed by the NFRD. A great company is one that meets at least two of the following requirements: A business volume of more than 40 million euros.

A total balance of  million  or more

Parent companies from a third country (including the US) that, in consolidation, generate more than €150 million net turnover in the EU and meet one of the following criteria: It has a subsidiary considered a large company in the EU. Owns a subsidiary with debt Russia WhatsApp Number Data securities or shares listed on an EU regulated exchange It has an important subsidiary in the EU,  When does the CRSD go into effect? It comes into force in January 2024, but the first reports will not appear until 2025: January for companies already subject to the NFRD directive (with more than 500 employees), which must submit their reports in.

For large companies that are not

Currently subject to the NFRD directive (250 people employed and/or a turnover of  million in total assets), and companies parent companies of a large group that meet at least two of the three criteria above, which will have to submit their reports in  (possibility of exception until 2028), as well as for small non-complex credit institutions and Vietnam WhatsApp Number List captive insurance companies. What is the difference between  The CSRD and  Directives are two EU directives that require companies to disclose non-financial information related to their environmental, social and governance (ESG) results. The main differences between the two guidelines concern the scope and content of the information required.