Corporate Sustainability Reporting Directive (CSRD) for Beginners
Authored By: @Andreea Vasiliu-Oracle
INTRODUCTION
CSRD stands for Corporate Sustainability Reporting Directive, and it is legislation that establishes environmental, social and governance (ESG) reporting requirements for organisations.
SHORT HISTORY
While several countries have introduced disclosure requirements and legislation, it was on April 15th, 2014 that the European Commission’s published a memo “Disclosure of non-financial and diversity information by large companies and groups - FAQ” with the objective to increase EU companies’ transparency and performance on environmental and social matters, and to contribute effectively to long-term economic growth and employment.
On January 5th, 2023, the Corporate Sustainability Reporting Directive (CSRD) entered into force.