CSRD : qui est concerné, quels impacts ? 

october 2022
6 min read

"The CSRD directive is starting to worry French companies" was the headline in Novethic Essentiel on September 28.

The CSRD is part of the ambitious European sustainable finance strategy and should be a powerful lever for integrating CSR issues into the governance and management of companies.  

The objective is to direct investments towards sustainable activities, to integrate the analysis of sustainability risks in the company's strategy, to encourage transparency and to promote a long-term vision.

With the CSRD, sustainability reporting will aim to provide evidence of the sustainable transformation of companies.

The CSRD will come into effect:

  • Reporting on fiscal year 2024 (for publication in 2025) for companies currently subject to the NFRD (Turnover > €40M or total balance sheet > €20M and # employees > 500)
  • Reporting on the 2025 fiscal year (for publication in 2026) for other large companies with more than 250 employees (2 of the 3 thresholds: turnover > 40M€ or balance sheet total > 20M€ or # employees > 250)
  • Reporting for the year 2026 (for publication in 2027) for listed SMEs. (see notes)

The CSRD will include several major principles in CSR reporting, including

  • A key principle of double materiality "The impacts of the company on people and the environment and how sustainability issues affect the company".
  • Restructuring around the 3 "ESG" pillars (environment, social, governance) whose content is specified
  • Environment: alignment with the 6 objectives of the Taxonomy, taking into account the 3 scopes of greenhouse gas emissions, etc.
  • Social: transparency obligations on the notions of equality; employment & working conditions and respect for human rights
  • Governance: analysis of the composition and role of governance bodies, anti-corruption policies, internal control and risk management systems in relation to sustainability reporting, business ethics and protection of informants and protection of animal welfare

If its application still seems far away, the experts recommend to anticipate to work on it from 2023!  

"Our exchanges with large companies indicate that more than half of large companies have begun to prepare for the CSRD" this approach is however "less advanced for medium-sized companies, which are not yet used to the exercise of publishing non-financial reportings and which will have to initiate an in-depth CSR approach" analyzes Grégoire Etienne CEO Greenscope.

And to conclude, the CSRD "will also be a great opportunity for all players committed to a sustainable approach to highlight and recognize their commitments"!

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Notes: large companies are defined in the Accounting Directive for each country. In France: SA, SCA, SARL, SAS, EU Regulation N°575/2013 point 145, Directive 2009/138/EC Article 13(2)

Photo by Unsplash

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October 2022
6 min read