Large companies
They must adopt CSRD standards starting in 2024, with stringent requirements, including double materiality (assessing impacts both on and by the company) and external assurance of reports.
Listed SMEs
From 2026, these entities will have simplified reporting requirements but still must adhere to ESRS standards.
Non-EU companies
Those with a turnover of more than €150 million in the EU will need to comply with reporting standards starting in 2028.
When for your project?
Current Directives and Key Implementation Dates
2024
Large companies already under the Non-Financial Reporting Directive (NFRD) will need to comply with the CSRD reporting standards (ESRS). These companies are defined as having more than 500 employees and an annual turnover exceeding €50 million or a balance sheet total of more than €25 million. Reports must cover aspects such as business model, sustainability governance, and environmental impact.
2025
The CSRD extends to other large European companies and subsidiaries of international groups, encompassing those meeting at least two of the following criteria: over 250 employees, more than €50 million in turnover, or a balance sheet exceeding €20 million. These entities must collect data in 2025 for reports due in 2026.
2026
Small and medium-sized enterprises (SMEs) listed on EU public markets, except micro-enterprises, will begin gathering ESG data for their 2027 reports. Sector-specific standards for high-risk industries, such as agriculture and fossil fuels, will also be introduced this year.
2028
The Corporate Sustainability Due Diligence Directive (CSDDD) will apply to more companies, requiring measures to address environmental and social risks across the value chain.
2030
Temporary exemptions for multinational non-EU companies will end, requiring comprehensive consolidated reports aligned with ESRS for those with significant revenue in the EU.