The EU's Corporate Sustainability Reporting Directive (CSRD) came into force at the beginning of 2023 but it needs to be transposed into local legislation in each member country, with France becoming the first country to do so.
The law initially concerns large, listed companies but will gradually apply to small and medium-sized companies.
They will be required to disclose information on the impact of their activities on people and the environment, as well as what they consider to be the risks and opportunities arising from social and environmental issues on their business activities.
The measure is meant to help investors, activists and consumers to evaluate the sustainability performance of companies.
It should also help reduce greenwashing as sectorial criteria will improve comparisons between companies and the sustainability info will fall under the review of company auditors.
The CSRD was adopted as part of a package of measures on the EU's plan to reach net zero carbon emissions by 2050.
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