CSRD Webinars.pdf

The Corporate Sustainability Reporting Directive (CSRD) came into force on 5 January 2023, and ecoDa and Mazars launched webinars to inform board members about new requirements and responsibilities. The CSRD aims to increase transparency, with key features including an enlarged scope, European Sustainability Reporting Standards (ESRS), and mandatory assurance of sustainability reports. The ESRS will have three layers: sector-agnostic, sector-specific, and entity-specific, with companies required to identify ESG impacts, risks, and opportunities. The CSRD applies to large entities, listed SMEs, and non-EU groups with significant EU activity, with exemptions for subsidiaries under certain conditions. The directive requires producing a sustainability report at an entity or consolidated level, with standards differing depending on entity size and profile. The first draft of sector-agnostic standards includes 82 disclosure requirements and approximately 1,100 data points, with about one-third being mandatory. The CSRD also introduces mandatory assurance, with auditors and audit committees playing a crucial role in ensuring the quality and reliability of sustainability reporting.