This document is published annually for all the company’s stakeholders (shareholders and investors, employees, clients, suppliers, local communities, banks and media). It discloses non-financial information about the business, aiming to provide as complete a picture as possible of ESG (Environmental, Social, Governance) performance.

 

The new Corporate Sustainability Reporting Directive (CSRD) extends mandatory sustainability reporting to all large corporations, whether publicly listed or not, which meet at least two of the following criteria:

 

1. € 20 million balance sheet

2. € 40 million net turnover

3. An average of 250 employees
    

Sustainability reporting is not mandatory for all but does provide an increasingly crucial platform for transparency and should be viewed by all companies including SMEs as an opportunity which offers a competitive edge.

 

When drafting the document, companies can choose from various reporting standards:
 

• GRI Standards (Global Reporting Initiative)

• SASB Standards (Sustainability Accounting Standards Board)

• ESRS Standards (European Sustainability Reporting Standards)

ESRS Standards will be mandatory for companies subject to the Corporate Sustainability Reporting Directive (CSRD).

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