On April 21, 2021, the European Commission published a comprehensive package of measures which includes, among other things, proposals to revise the previously existing CSR Directive. The proposals include:
- the expansion of the group of companies subject to reporting requirements,
- a revision of the content of reporting by an EU-owned standard setter (EFRAG),
- the legal clarification of "dual materiality",
- the management report as the only permissible reporting format,
- ESEF tagging also for sustainability reporting, and
- the extension of the balance sheet report.
Adoption into national law is planned by 2022 with first application of the new regulations on January 1, 2023. We will keep you informed about further developments here.
Our services for CSR reporting 2.0
Our interdisciplinary team will be happy to support you with the challenges that arise with regard to the currently applicable legal requirements, but also future legal changes with regard to sustainability reporting. We would be happy to develop a customized consulting approach with you.