Everything you wanted to ask about the CSRD, answered

The first companies are going to have to report on the Corporate Sustainability Reporting Directive soon. It’s time for our FAQ edition about the new regulation

The Corporate Sustainability Reporting Directive (CSRD) is an EU ESG standard enacted by the EU. It is designed to make corporate sustainability reporting more common, consistent and standardised like financial accounting and reporting. The new directive’s impact is far-ranging and essentially modernises and strengthens the social and environmental information that companies have to report.

The directive has come into force and the deadline for EU member states to transpose it into national law was July 6th. That deadline does not seem to concern most EU member states. Only a few have completed the legislative process.

Nevertheless, CSRD dramatically increases the number of businesses that are subject to mandatory ESG disclosures from 15,000 to over 50,000. It will also impact non-EU companies, called third-country companies, that have substantial activity in the EU. And some companies need to start complying next year.

It’s time to start asking some real questions about CSRD. That’s why we created CSRD: The FAQ edition. It will help you understand the key things your business needs to know about the EU’s flagship sustainability directive and ensure compliance, and, hopefully, a more sustainable world.

Download CSRD: The FAQ edition

How are you managing your GDPR compliance requirements?

GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.

“In a world older and more complete than ours they move finished and complete, gifted with extensions of the senses we have lost or never attained, living by voices we shall never hear.”