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Sustainability reporting delayed for specific sectors and non EU companies. Check the white paper prepared by Plan A here:

Update on EU CSRD & ESRS reporting obligations The European Council has recently approved a directive that significantly impacts the timeline for adopting sector-specific sustainability reporting standards (ESRS) and extends the sustainability reporting deadlines for companies outside the European Union under the Corporate Sustainability Reporting Directive (CSRD). Key updates include: • Non-EU companies: The adoption of ESRS has been postponed until the end of June 2026, with the reporting obligations still starting in 2028. • Sector-specific standards: The deadline for adopting sector-specific standards has also been pushed back to 2026. However, the EU Council and Parliament have emphasised the importance of releasing these standards as soon as they are ready before the new deadline. Why does it matter? This adjustment allows companies more time to adapt to the comprehensive reporting required by the CSRD and to focus on integrating the first set of sector-agnostic ESRS, which have been in effect since the beginning of 2024. To fully understand how these changes affect your business and to prepare for the upcoming standards, we invite you to download our detailed whitepaper on the ESRS and CSRD: https://lnkd.in/e_2MQDzk #ESG #sustainabilityreporting #CSRD #EUregulations #businesscompliance #sustainablebusiness

Update on EU CSRD & ESRS reporting obligations The European Council has recently approved a directive that significantly impacts the timeline for adopting sector-specific sustainability reporting standards (ESRS) and extends the sustainability reporting deadlines for companies outside the European Union under the Corporate Sustainability Reporting Directive (CSRD). Key updates include: • Non-EU companies: The adoption of ESRS has been postponed until the end of June 2026, with the reporting obligations still starting in 2028. • Sector-specific standards: The deadline for adopting sector-specific standards has also been pushed back to 2026. However, the EU Council and Parliament have emphasised the importance of releasing these standards as soon as they are ready before the new deadline. Why does it matter? This adjustment allows companies more time to adapt to the comprehensive reporting required by the CSRD and to focus on integrating the first set of sector-agnostic ESRS, which have been in effect since the beginning of 2024. → To fully understand how these changes affect your business and to prepare for the upcoming standards, Plan A invites you to download this detailed whitepaper on the ESRS and CSRD:  https://lnkd.in/dagUDAT8 #ESG #sustainabilityreporting #CSRD #EUregulations #businesscompliance #sustainablebusiness

📢 New 'CSRD Essentials' publication by GRI explains the EU's mandatory sustainability reporting requirements 👇 The new publication simplifies key aspects of the Corporate Sustainability Reporting Directive (CSRD) and results from joint work between GRI, EU Parliament member Pascal Durand, and the Lefebvre – Sarrut Group. Addressed to policymakers and sustainability reporters, it encapsulates 11 core briefings that explain the CSRD in accessible language. The CSRD Essentials focuses on: 🔵 Scope, timing, and interactions with existing standards 🔵 Reporting format 🔵 Legal interconnections, auditing rules, and internal supervision 🔵 Small and Medium Enterprises (SMEs), implementation procedures, and penalties Document and press release source: https://lnkd.in/dX2fZtEV #esg #csrd #esrs

[Pascal Durand opinion piece on the new CSRD European regulation ] 📜 "The Corporate Sustainability Reporting Directive (#CSRD) is a major step forward for a more transparent, fairer and efficient European market," says Pascal Durand, an MEP who proposed and negotiated this #CSR regulation at the European Parliament. He stipulates, "The adoption of these new uniform reporting standards allows companies to apply a legal framework adapted to a changing world”. The new #CSRD directive, which has been transposed in France early december, will come into force starting in 2024. To mark the occasion, the MEP, specialised in governance and the author of Le guide de la gouvernance des sociétés ("Guide to corporate governance"), published by Dalloz - now known as Lefebvre Dalloz - summarizes the basics of this directive in one page.   As a reminder, CSRD aims to harmonize sustainability reporting by requiring companies to publish detailed information on their impact in terms of environmental, social and governance (#ESG) performance. More than 50,000 companies will be directly concerned by the regulation.   Read the article here: ➡️ https://lnkd.in/eeScTHKp

CSRD clarified The European Commission has published a new set of frequently asked questions (FAQs), aimed at supporting companies and other stakeholders in implementing sustainability reporting requirements of the EU’s Corporate Sustainability Reporting Directive (CSRD). The FAQs are grouped by the following topics: ➡ Sustainability reporting requirements introduced by the CSRD ➡ Assurance of sustainability reporting ➡ Key intangible resources ➡ Requirements for third-country entities ➡ Sustainable Finance Disclosure Regulation (SFDR) According to the introduction of the document, the FAQs are intended to facilitate the compliance of stakeholders with the regulatory requirements in a cost-effective way and to ensure the usability and comparability of the reported information on sustainability. The EC responses to the FAQs clarify the provisions already contained in the applicable legislation. They do not extend the rights and obligations deriving from such legislation nor introduce any additional requirements. As a reminder, the CSRD took effect from the beginning of 2024 for large public-interest companies with over 500 employees, with the first reports to be issued in 2025, followed by companies with more than 250 employees or €40 million in revenue in the following year, and listed SMEs one year later. 🔗 Access the FAQs document here: https://lnkd.in/efYmaJp8 #csrd #sustainabilityreporting

💡 Update on EU CSRD & ESRS reporting obligations The European Council has recently approved a directive that significantly impacts the timeline for adopting sector-specific sustainability reporting standards (ESRS) and extends the sustainability reporting deadlines for companies outside the European Union under the Corporate Sustainability Reporting Directive (CSRD). 🗓️ Key updates include: • Non-EU companies: The adoption of ESRS has been postponed until the end of June 2026, with the reporting obligations still starting in 2028. • Sector-specific standards: The deadline for adopting sector-specific standards has also been pushed back to 2026. However, the EU Council and Parliament have emphasised the importance of releasing these standards as soon as they are ready before the new deadline. Why does it matter? This adjustment allows companies more time to adapt to the comprehensive reporting required by the CSRD and to focus on integrating the first set of sector-agnostic ESRS, which have been in effect since the beginning of 2024. To fully understand how these changes affect your business and to prepare for the upcoming standards, we invite you to download our detailed whitepaper on the ESRS and CSRD: https://lnkd.in/e_2MQDzk #ESG #sustainabilityreporting #CSRD #EUregulations #businesscompliance #sustainablebusiness

The European Parliament has announced a two-year extension for the implementation of sector-specific European Sustainability Reporting Standards (ESRS) - the standards companies will have to follow when reporting to the requirements of the Corporate Sustainability Reporting Directive (CSRD). This adjustment, initially communicated in October 2023, pushes the deadline for finalising sector-specific ESRS from June 2024 to June 2026. What is the purpose of the extension? The primary objective is to allow companies to concentrate on the initial set of ESRS, effective since July 2023. The delay also allows the European Financial Reporting Advisory Group (EFRAG) the time to meticulously develop the new sector-specific standards. How does this affect the sector-agnostic standards? It's essential to note that the extension exclusively impacts sector-specific ESRS, leaving the sector-agnostic standards, which apply universally, unaffected. How should organisations respond? This decision, according to the European Commission proposal, enables organisations to strategically focus on the current set of ESRS while EFRAG creates robust and effective sector-specific standards. As the regulatory landscape evolves, staying well-informed is crucial. Plan A offers comprehensive solutions, streamlining reporting processes and ensuring compliance with evolving standards while optimising ESG practices. For more information, click here: https://lnkd.in/d4bXiiFk Share your thoughts on these regulatory shifts below! 👇 #sustainability #euregulationupdate #environmentalgovernance

The European Parliament has announced a two-year extension for the implementation of sector-specific European Sustainability Reporting Standards (ESRS) - the standards companies will have to follow when reporting to the requirements of the Corporate Sustainability Reporting Directive (CSRD). This adjustment, initially communicated in October 2023, pushes the deadline for finalising sector-specific ESRS from June 2024 to June 2026. What is the purpose of the extension? The primary objective is to give companies the opportunity to concentrate on the initial set of ESRS, effective since July 2023. Additionally, the delay allows the European Financial Reporting Advisory Group (EFRAG) the necessary time to meticulously develop the new sector-specific standards. How does this affect the sector-agnostic standards? It's essential to note that the extension exclusively impacts sector-specific ESRS, leaving the sector-agnostic standards, which apply universally, unaffected. How should organisations respond? This decision, according to the European Commission proposal, enables organisations to strategically focus on the current set of ESRS while EFRAG creates robust and effective sector-specific standards. As the regulatory landscape evolves, staying well-informed is crucial. Plan A offers comprehensive solutions, streamlining reporting processes and ensuring compliance with evolving standards while optimising ESG practices. For more information, click here: https://lnkd.in/euzE_W-s Share your thoughts on these regulatory shifts below! 👇 #sustainability #euregulationupdate #environmentalgovernance

📣 The DRSC just published a briefing paper highlighting the application scopes of the CSRD and the CSDDD for EU companies! The Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD) share thematic overlaps. Notably, companies subject to CSRD sustainability reporting are exempt from the CSDDD disclosure requirements (Article 16(2) CSDDD). This exemption is reflected in the government's draft to implement the CSRD, where the reporting obligation under § 10(2) LkSG is waived if a company prepares and audits a sustainability report. The sustainability report will be published on the company’s website instead. The DRSC briefing paper clarifies which EU companies will be affected by these new regulations and provides guidance for internal alignment on reporting obligations. For more details, check out the following paper (in German language only) 👇 #csrd #csddd #esgreporting