The European Commission is implementing the Corporate Sustainability Reporting Directive (CSRD) in 2024 which requires mandatory sustainability disclosures. Following the European Sustainability Reporting Standard (ESRS) framework, the first companies will need to report for the 2024 financial year with reporting requirements extending to Small and Medium-Sized Enterprises (SMEs) for 2026. This expands the current reporting requirements from 11,700 organizations to over 49,000. This impacts European companies directly and the companies within their value chain. The strong global trend for mandatory climate-related disclosures means companies, regardless of their location, need to start planning now.
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