Green Light for Green Reports
Following recent news that the Corporate Sustainability Reporting Directive (CSRD) was voted into EU law by the European Parliament, this week the Council of the European Union has given the directive the final green light.
The CSRD will replace the Non-Financial Reporting Directive (NFRD), introducing more detailed reporting requirements for sustainability matters and vastly expanding the entities required to report. Crucially, the CSRD requires comprehensive and now mandatory sustainability disclosures to be made in digital, machine-readable format.
Next steps before the 2024 start of a multi-year phase in process will be the finalisation of the European disclosure standards – watch this space.
Read more here.