The European Union has reached a deal on corporate sustainability 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀 𝗳𝗼𝗿 𝗹𝗮𝗿𝗴𝗲 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗳𝗿𝗼𝗺 𝟮𝟬𝟮𝟰.

Listed or unlisted companies with over 250 staff and turnover of €40 million will have to disclose environmental, social and governance (ESG) risks and opportunities, and the impact of their activities on the environment and people.

Some smaller listed companies will be subject to a lighter set of reporting standards, which they can opt out of until 2028, the committee said. 𝗧𝗵𝗲 𝗮𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁 𝗳𝗼𝗿𝗲𝘀𝗲𝗲𝘀 𝘁𝗵𝗮𝘁 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗮𝗻𝗱 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗿𝗲𝗽𝗼𝗿𝘁𝘀 𝗺𝘂𝘀𝘁 𝗻𝗼𝘁 𝗯𝗲 𝗮𝘂𝗱𝗶𝘁𝗲𝗱 𝘀𝗲𝗽𝗮𝗿𝗮𝘁𝗲𝗹𝘆. The CSRD will replace the current Non-Financial Reporting Directive (NFRD).

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