Corporate Sustainability Reporting mandatory for companies in 2024?

The European Commission is pushing companies to report their sustainability actions and risks in business. On 21 April 2021, the European Commission adopted an ambitious and comprehensive package of measures to help improve the flow of money towards sustainable activities across the European Union. By enabling investors to re-orient investments toward more sustainable technologies and businesses, these measures will be instrumental in making Europe climate neutral by 2050.

In addition to this, the future Corporate Sustainability Reporting Directive is also being developed to cover listed small and medium-sized enterprises (SMEs) with less than 500 employees, not only large enterprises. According to the plan, the required standards for the reporting will be developed in 2022. This will be followed by companies’ mandatory sustainability reporting in 2024, covering the financial year 2023.

If your company is even a little bit uncertain about the current situation and what will be required from you regarding developing sustainability and reporting, please contact us—we’ll be happy to give you guidance and support.

Did you know that we’re a member of the GRI community? GRI standards cover 80% of the possible standards required by the Corporate Sustainability Reporting Directive.