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CSRD (Corporate Sustainability Reporting Directive)

The European Corporate Sustainability Reporting Directive (CSRD) is a legislative proposal by the European Commission aimed at enhancing sustainability reporting and transparency among companies operating within the European Union (EU).

The CSRD intends to build upon the existing Non-Financial Reporting Directive (NFRD) and expand its scope to align with the EU’s ambitions regarding sustainability and climate action, specifically in line with the EU Green New Deal.

Here are some key aspects of the CSRD to keep in mind:

Expanded Reporting Scope
The CSRD has broadened the scope of reporting entities from its predecessor (NFRD). The directive applies to more large companies, including listed companies, banks, insurance companies, and presents more requirements.
Harmonized Reporting Standards
The CSRD aims to establish a common set of European sustainability reporting standards (ESRS) to ensure consistency, comparability, and reliability of reported information across the EU.
Reporting Requirements
Companies falling under requirement of the CSRD will need to disclose information on their environmental, social, and governance (ESG) performance, including climate change mitigation strategies, environmental impact, social aspects like diversity, human rights, and corporate governance practices.
Digital Reporting Format
The CSRD promotes the use of digital reporting. Digital reporting technology is understood to facilitate more accessible, structured, and comparable sustainability information management.
Assurance and Verification
Within the CSRD there may be requirements for external assurance or verification of a company’s reported sustainability information to enhance credibility and reliability.
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Timeline for implementation

2024
Large companies already subject to the NFRD First CSRD-compliant annual report published in 2025.
2025
Large companies not subject to the NFRD First CSRD-compliant annual report published in 2026.
2026
Listed SMEs First CSRD-compliant annual report published in 2027. An opt-out may be possible for listed SMEs, exempting them from reporting until 2028.

CSRD ROADMAP

All GSES assessments are third party verified, allowing for interoperability between them and CSRD requirements (See Below!)

Upload your existing certificates on the GSES platform. After validating the certificates, you gain a zero-point measurement of your sustainability performance. 

Complete the assessments for the missing KPIs and upload your evidence. An independent certifying institution conducts a desk audit. 

Request an onsite audit, executed by a third-party auditor. 

How can GSES help me with my CSRD reporting?

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