The fuss is that most businesses are only scratching the sustainability surface. The EU Corporate Sustainability Reporting Directive (CSRD) which was adopted by the European Council on 28 November 2022 is a game changer.
All EU companies that exceed any two of:
will be required to publish a comprehensive Annual Sustainability Report, together with their 2025 Annual Financial Report. The Sustainability Report must comply with the European Sustainability Reporting Standards (ESRS) developed by the European Financial Reporting Advisory Group (EFRAG). The first set of draft standards includes 84 Disclosure Requirements across Environment, Social and Governance topics. These standards will be complemented by sector specific standards.
EU Commissioner Mairead McGuiness noted as hugely significant that, for the first time, the EU is putting sustainability reporting on an equal footing with financial reporting – “We need accurate and reliable information to ensure that investments are being made towards a more sustainable future. This is ground-breaking legislation.”
Businesses that transparently report sustainable policies, actions and metrics will attract investors, customers and employees, adding long-term value for all stakeholders.
At EisnerAmper Ireland, we have the technical knowledge to simplify the complexity of your regulatory, compliance and reporting obligations, and the business experience to support your sustainability transformation. We apply our proven governance, risk, accounting and assurance methodologies to deliver practical and sustainable solutions, tailored for your business.
If we can help you or your business in any way, please do get in touch – we’d be delighted to help.
Learn more about our ESG Services here.