The goal of the standard is to make large companies ever more aware not only of their impacts on the environment, society and people but also of the risks associated with ESG factors.

 

The Corporate Sustainability Reporting Directive (CSRD) can be viewed as a fundamental extension of NFRD. Among other things it:
 

• Extends mandatory reporting to companies which previously had no obligation to do so and sets out deadlines for each type of organisation which falls within its scope;
   

• Introduces the notion of double materiality which becomes the cornerstone of sustainability reporting;
   

• Introduces new reporting standards, the European Sustainability Reporting Standard (ESRS), which significantly expand the reporting boundaries.

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