New Directive will standardise Sustainability Reporting across the EU
New EU Directive will help prevent greenwashing and bring sustainability reporting to an audited & assured standard. IN June 2023 there was a confirmation of detailed reporting standards around the Corporate Sustainability Reporting Directive (CSRD). The directive will replace the EU’s legacy ESG Reporting programme NFRD and will set a standard of carbon reporting and auditing that is robust and comparable to the quality and control implemented in financial reporting. Companies will need to bring a new level of diligence to their ESG reporting in order to comply with these regulations. The CSRD will require full carbon emissions reporting for 50,000 EU businesses and 10,000 non-EU companies with significant EU operations.