That's it! The CSRD directive has been mandatory since 1er January 2024! This is a crucial step for intermediate-sized companies (ETIs) and listedSMEs this is an exceptional opportunity to rethink your the sustainability your business. In this article, we explore the key questions your company needs to ask itself to prepare effectively for this revolution!
What is CSRD?
The CSRD, or "Corporate Sustainability Reporting Directive" in English, translates into French as "Directive sur la publication d'informations en matière de durabilité des entreprises".
This is a European Union directive aimed at strengthening and harmonizing companies' non-financial and sustainability reporting obligations. The CSRD is a revision of the 2014 NFRD (Non-Financial Reporting Directive), which had given rise in France to the Déclaration de Performance Extra-Financière (DPEF) in 2017. It imposes stricter obligations on large companies, but also on small and medium-sized listed companies, with regard to the disclosure of information on their social, environmental and human rights impacts.
Phased in for fiscal years beginning on or afterst January 2024, the CSRD represents an important step towards promoting sustainability and corporate responsibility within the European Union.
Am I concerned by the CSRD?
Many small and medium-sized businesses are unaware that the CSRD applies to them. It is essential to check your eligibility (see our next article for an analysis of the scope of application) and to understand the implications for your organization. Transparency and accountability are at the heart of this directive, impacting those who exceed certain financial limits.
What should companies include in their sustainability reporting?
The CSRD directive introduces reporting standards ESRS (European Sustainability Reporting Standards), encouraging companies to disclose specific information on topics such as greenhouse gas emissions, diversity, gender equality and other sustainability issues. These standards aim to increase transparency and ensure greater comparability of information between companies, thus contributing to more responsible and sustainable management of business activities. They are based on the 3 classic pillars of CSR: governance, social and environmental.
How to prepare?
Many ETIs have not yet developed sufficient CSR maturity. We emphasize the importance of anticipating project planning, involving governance, and training key stakeholders. Our teams are at your disposal to help you.
What's the purpose?
CSRD is more than just a regulatory obligation and a simple matter of compliance. It's an opportunity to redefine and strengthen your company's business model. It's a chance to distinguish yourself, innovate and demonstrate your commitment to sustainability!Follow us and stay tuned! A series of articles on CSRD will follow to convince you that this is now an opportunity for you!
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