The Corporate Sustainability Reporting Directive (CSRD) requires the European Commission to adopt the following European Sustainability Reporting Standards (ESRS) by 30 June 2024:
- Sector-specific ESRS, which will set out the information specific to the sectors in which a company operates; and
- ESRS for certain non-EU companies with business in the EU meeting certain thresholds.
In October 2023, the Commission published a proposal for a legislative act to delay the adoption of these two sets of ESRS by two years, i.e. to 30 June 2026.
The European Parliament formally adopted the proposal on 10 April 2024, and the Council followed suit on 29 April (for more information, see our previous blog post).
On 8 May 2024, the Directive was published in the Official Journal of the European Union. It willenter into force on the 20th day following its publication - i.e. 28 May 2024.
For more information on the CSRD, please see our CSRD demystified materials.
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