CSRD
Corporate Sustainability Reporting Directive
The CSRD (Corporate Sustainability Reporting Directive, Directive (EU) 2022/2464) requires large companies to publish an audited sustainability report under the ESRS. Since the Omnibus I directive of 2026, it covers companies with more than 1,000 employees and more than €450 million in net turnover.
The CSRD replaced the 2014 Non-Financial Reporting Directive (NFRD). It was adopted in December 2022 and first applied to the largest listed companies for financial year 2024.
The Omnibus I directive (Directive (EU) 2026/470, published in the Official Journal on February 26, 2026) cut the scope to companies with more than 1,000 employees and more than €450 million in net turnover. Member States have until March 19, 2027 to transpose these changes. A revised, simplified set of ESRS was published in the Official Journal in September 2026.
In-scope companies run a double materiality assessment, report on their material topics in a dedicated section of the management report, and have that section checked by an auditor or an independent assurance provider (limited assurance). Smaller companies are not in scope, but their CSRD customers can ask them for data, capped at what the Voluntary Standard (VS, formerly VSME) covers.
Go further
- CSRD with Ditto
- What is the EU Corporate Sustainability Reporting Directive and what are its key steps?
- CSRD: who is concerned?