Draft:Corporate Sustainability Reporting Directive

The Corporate Sustainability Reporting Directive (CSRD) is a standardized format for sustainability reporting. CSRD is currently being developed after its approval by the European Commission on December 14, 2022.:.

The directive increases the number of companies that will be required to publicly report on environmental, social, and corporate governance topics from approximately 12,000 to approximately 50,000,.

The directive aims to harmonize the transparent disclosure of information regarding climate change and other sustainability issues across the EU.

Reporting using the CSRD standard is required for EU-companies that meet at least two of the following


 * 1) having a balance sheet total exceeding EUR 20 million
 * 2) having a net turnover exceeding EUR 40 million
 * 3) having more than 250 employees

CSRD will come into effect for annual reporting on financial years starting on or after January 1, 2024 for entities already required to publish under the NFRD. Other companies that meet the requirements listed above will have to publish using CSRD on financial years starting on or after January 1, 2025.

Technical Specification
Like the European Single Electronic Format, CSRD uses Inline XBRL (iXBRL), a digital format that combines eXtensible Business Reporting Language (XBRL) and XHTML, enabling both machine-readability and human-readability of reports. The CSRD taxonomy is currently under development by EFRAG