SERVICES

The CSRD, or Directive on corporate sustainability reporting, is the new regulation at European level which replaces Directive 2014/95/EU and which, from 2024, will govern the sustainability information that companies in the EU have to present. This sustainability reporting is grounded in 12 new standards that imply an unprecedented process of changes for the companies involved. 

The European Sustainability Reporting Standards, or ESRS, are the European standards included in the CSRD so that companies can provide reports on their sustainability. They are aimed at enabling companies to provide detailed information on their environmental, social and governance impacts, and have been integrated in the EU’s legal framework. It is estimated that the new regulation will affect some 50,000 businesses, as opposed to the 12,000 that were affected by the previous one. 

Although many Spanish companies have already adapted to the new regulation, the CSDR will apply in accordance with the following calendar:

• 2024. Companies affected by the old regulation, non-financial reporting directive, or NFRD, relating to large listed companies, financial companies and insurance, with more than 500 employees.
• 2025. Other large companies (listed and non-listed).
• 2026. Listed SMEs (fewer than 250 workers).
• 2028. Companies from outside the European Union, with specific requirements. 

In short, these changes represent a challenge and an opportunity for companies, as they are forced to adapt to more stringent standards and demonstrate greater commitment to sustainability in their corporate reporting.  

Here at Veraleza, our experts and consultants are on hand to help companies in respect of the new regulation: management of green spaces, recommendations with regard to the optimal tree and plant species in each case, use of resources to enable them to achieve sustainable aims, etc.