Corporate Sustainability Reporting Directive (CSRD) - New requirements and implementation in practice

The Corporate Sustainability Reporting Directive (CSRD) came into force on January 5, 2023. The aim of the directive is to extend the sustainability reporting obligation and to make sustainability reporting comparable and more detailed through the mandatory application of European Sustainability Reporting Standards (ESRS). The aim is to ensure that financial flows are directed towards sustainable economic activities as part of the EU's "Sustainable Finance" strategy.

Circle of users

The first companies will already have to report in accordance with the CSRD in 2025 for the financial year 2024 if they are already subject to the Non-Financial Reporting Directive (NFRD). In the following year, large companies will also be required to report in accordance with the CSRD, irrespective of their capital market orientation, if they meet two of the three criteria below. This will increase the number of users many times over.

>250 employees on the annual average

>40 million euros net sales

>20 million euros balance sheet total

New materiality assessment & data management

The CSRD is also accompanied by a new materiality methodology. According to this, companies must consider both, impacts of their business activities on the economy, environment and society as well as financial impacts of sustainability aspects on business activities in their analysis and subsequent reporting. But data management also poses major challenges for companies, as the number of data points to be published is growing significantly compared to today.

Webinar answered important questions for practical implementation

In order to be able to meet the requirements of the future reporting obligation, some preparation is therefore necessary. This raises many questions for companies: What requirements does the EU place on us as a company? What are the CSRD and the ESRS all about? What's the deal with the mandatory materiality analysis? What processes, structures and resources do I need internally? And above all: What are the concrete steps that I, as a company, need to take and when do I need to start at the latest?

We therefore held a webinar for our customers and partners in which we bridged the gap from theory to practice and explained how they can approach sustainability reporting in accordance with the new CSRD directive in their company.

Would you like to learn how to approach CSRD in a practical way? You are welcome to request the presentation as well as the recording of our CSRD webinar free of charge by e-mail (German only).

You will also find a short follow-up on this in our "Focal Point" of July 4, 2023.

Copyright: @vladhilitanu, unsplash

We help with questions & implementation

Do you have questions or need support regarding CSRD and the accompanying preparations?

Do not hesitate to contact us if you have any questions about the CSRD or the ESRS, or if you need support in conducting the materiality analysis in accordance with the new requirements, setting up data collection in your company and/or further preparing for the new reporting obligation. We will be happy to support you.


IR.on AG
Anna-Lena Mayer
Mittelstr. 12-14 (House A)
50672 Cologne

+49 (0) 221 91 40 97 6

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