What do UK organisations need to know about the EU’s Corporate Sustainability Reporting Directive?

The EU’s Corporate Sustainability Reporting Directive (CSRD) is new legislation that recently came into force with first reporting requirements coming next year. The directive will require all large and listed companies to publish regular reports on the social and environmental risks they face, and on how their activities impact people and the environment. It’s an important part of delivering on the European Green Deal – an ambitious effort whose ultimate goal is a carbon-neutral Europe.

Part of that effort involves putting sustainability reporting “on the map” so it becomes an issue of significance for companies. CSRD defines – for the first time – a common reporting framework for non-financial data, encompassing not just climate change but broader Environmental, Social and Governance (ESG) metrics. 

Many EU member states have missed the deadline to transpose the directive into national law. This could present serious challenges for companies who need to comply starting next year.

Nevertheless, CSRD will dramatically increase the number of businesses that are subject to mandatory ESG disclosures from 15,000 to over 50,000. Among those impacted by this new directive are also non-EU companies, or third-country companies, that have substantial activity in the EU. Obviously, this includes UK organisations. 

But how exactly will they be impacted? This is where we come in. Our guide will explain what this directive is, what you need to know, what it means for your UK company now and, significantly, what you need to do to get ready. Because the one thing that is clear is this: You need to prepare now as successful reporting will require a holistic approach that involves the entire organisation.