Sustainability Reporting - CSRD & ESRS
2024
Companies that are already
subject to reporting in accordance with NFRD/CSRD-RUG
- Annual average of more than
2025
Large companies that
not yet
are required to report
2026
Listed SMEs
Exempt from the
2028
Non-EU companies with EU branches or EU subsidiaries
FAQ
CSRD & ESRS - Frequently Asked Questions Briefly Explained
This primarily depends on the size of the company. Companies with 500 or more employees are required to report under the CSRD from the reporting year 2024, and those with more than 250 employees from the reporting year 2025. However, the legal form, total balance, and net turnover also play a role in determining whether a company is subject to reporting requirements.
The CSRD allows EU member states some flexibility in this regard. In Germany, it is expected that only auditors will conduct audits in accordance with the CSRD.
ESRS stands for European Sustainability Reporting Standards. These standards outline the content and metrics that a company subject to the CSRD must report.
According to current regulations, all companies subject to reporting obligations are obliged to adhere to the ‘ESRS 2 General Disclosures.’ This entails a mandatory materiality analysis to be carried out in accordance with the specified regulations. Companies are tasked with conducting this analysis in line with the guidelines. Upon completion of the materiality analysis, the company can precisely determine which additional content and metrics it needs to disclose in its reports.
No, the Corporate Sustainability Reporting Directive (CSRD) is not a direct part of the EU Taxonomy. The CSRD focuses on the disclosure of non-financial information in company reports, while the EU Taxonomy establishes criteria for the environmental sustainability of economic activities. However, both initiatives are part of the broader efforts of the European Union to promote transparency and comparability regarding sustainable practices.
The CSRD (Corporate Sustainability Reporting Directive) is a regulation that outlines disclosure requirements for companies in the European Union (including non-EU companies). On the other hand, the ESRS (European Sustainability Reporting Standards) serve as the framework, including a set of metrics, that companies subjected to CSRD regulations must use for their publication of sustainability information.