This page contains information about the CSRD – the Corporate Sustainability Reporting Directive and the Sustainable Development Goals.

In our programs we prefer to start from the broad scope of the SDGs (Sustainable Development Goals) but immediately we will integrate the ESG (Environmental, Social and Governance) in our sessions.

Both frameworks are related to sustainability, but they have distinct purposes and scopes. For sure, we will prepare your organisation on being ready for the new reporting regulations (ESG).

Read more about it on this page.

What the EU is doing and why:

EU law requires all large companies and all listed companies (except listed micro-enterprises) to disclose information on what they see as the risks and opportunities arising from social and environmental issues, and on the impact of their activities on people and the environment.

This helps investors, civil society organisations, consumers and other stakeholders to evaluate the sustainability performance of companies, as part of the European Green Deal.

NEW RULES ON CORPORATE SUSTAINABILITY REPORTING: The Corporate Sustainability Reporting Directive

On 5 January 2023, the Corporate Sustainability Reporting directive (CSRD) entered into force. It modernises and strengthens the rules concerning the social and environmental information that companies have to report. A broader set of large companies, as well as listed SMEs, will now be required to report on sustainability. Some non-EU companies will also have to report if they generate over EUR 150 million on the EU market.

The new rules will ensure that investors and other stakeholders have access to the information they need to assess the impact of companies on people and the environment and for investors to assess financial risks and opportunities arising from climate change and other sustainability issues. Finally, reporting costs will be reduced for companies over the medium to long term by harmonising the information to be provided.

The first companies will have to apply the new rules for the first time in the 2024 financial year, for reports published in 2025.

Companies subject to the CSRD will have to report according to European Sustainability Reporting Standards (ESRS). The standards are developed in a draft form by the EFRAG, previously known as the European Financial Reporting Advisory Group, an independent body bringing together various different stakeholders.

The first set of ESRS was published in the Official Journal on December 2023  under the form of a delegated regulation. These standards apply to companies under the scope of the CSRD regardless of which sector they operate it. They are tailored to EU policies, while building on and contributing to international standardisation initiatives.

The CSRD also requires assurance on the sustainability information that companies report and will provide for the digital taxonomy of sustainability information.


SDGs (Sustainable Development Goals):

    • Purpose: The SDGs, also known as the Global Goals, were adopted by all United Nations Member States in 2015 as part of the 2030 Agenda for Sustainable Development.
    • Features:
      • Comprehensive Approach: The SDGs take a holistic approach to sustainability, addressing a wide range of global challenges such as poverty, hunger, clean water, gender equality, and climate action.
      • Universal Call to Action: They serve as a global call to action to end poverty, protect the planet, and ensure prosperity for all.
      • Broader Scope: Unlike ESG, which primarily focuses on businesses and investors, SDGs involve governments, international organisations, and the general public.

ESG (Environmental, Social, and Governance):

    • Purpose: ESG is primarily used by investors and organizations to assess and manage their environmental, social, and governance practices.
    • Components:
      • Environmental (E): Focuses on a company’s environmental impact, including carbon emissions reduction, resource conservation, waste minimization, and environmental risk mitigation.
      • Social (S): Evaluates social responsibility, covering labor practices, diversity, employee well-being, community engagement, and customer relations.
      • Governance (G): Centers on corporate governance and ethical business practices, including board diversity, executive compensation, transparency, and adherence to ethical standards.

In summary, ESG is more specific, focusing on corporate practices and financial impact, while SDGs are broader, aiming to address global challenges comprehensively. Both frameworks contribute to a more sustainable future, but they operate at different levels and involve various stakeholders. 

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