The demands from external stakeholders on sustainability reporting are constantly increasing. New legal requirements, guidelines, and standards for the disclosure of non-financial information are emerging at national and international levels – such as the current EU Corporate Sustainability Reporting Directive (CSRD). With the CSRD directive, EU legislation on non-financial reporting was significantly expanded in 2021. Uniform implementation standards were added: the European Sustainability Reporting Standards (ESRS).

In Germany alone, the CSRD reporting obligation applies to approximately 15,000 large and medium-sized companies, in addition to capital market-oriented companies. The CSRD focuses on risk assessments and the company's impacts regarding the various dimensions of sustainability, including human rights.

Whether it's the implementation of the CSRD reporting obligation for a first report, or the creation of a voluntary CSR report or ESG report: We start together wherever you currently stand. We develop an approach and a concept for your sustainability report or the CSRD-compliant Sustainability Statement, tailored to the specific requirements of your company. Building on this, we accompany you throughout the entire reporting process – from data collection and editing to layout.

In our work, we orient ourselves towards international and national frameworks such as the ESRS and GRI Standards, the UN Global Compact, the Task Force on Climate-related Financial Disclosures (TCFD), the Sustainability Accounting Standards Board (SASB), or the German Sustainability Code (DNK), while taking into account current legal requirements for non-financial reporting.

We support you with our expertise on the path to a CSRD and ESRS-compliant Sustainability Statement. A methodology tailored to the needs and framework conditions of our clients helps you to fulfill your reporting obligations while simultaneously leveraging the opportunities of this process for your company.

With our comprehensive expertise in sustainability reporting, we provide support wherever you need it. You benefit from our know-how in all steps of the reporting process, from defining topics and collecting key figures to editing and publication. Upon request, we can also offer in-house design implementation, translations, and proofreading/copyediting.

With professional non-financial reporting, you not only fulfill your legal obligations, but also create transparency and credibility towards your relevant stakeholder groups.

CSRD: Who is affected and when?

The scope of application has expanded with the CSRD. In the first phase, i.e., from the financial year 2024, the CSRD reporting obligation applies to all capital market-oriented companies listed and operating on regulated EU markets, as well as to insurance companies and banks that are already subject to non-financial reporting obligations (NFRD/CSR-RUG). They must therefore publish their first CSRD report for the financial year 2024.

One year later, i.e., from the financial year 2025, all other non-capital market-oriented large companies that meet two of the following criteria will also be obliged:

• A balance sheet total of at least 25 million Euros
• Net turnover of at least 50 million Euros
• At least 250 employees

From the financial year 2026, the obligation for sustainability reporting under CSRD applies to:

• Listed small and medium-sized enterprises (SMEs), excluding micro-enterprises.
• Small and non-complex credit institutions.
• Captive insurance undertakings.

The first reporting will take place in 2027. Exceptions with deferral until 2028 are possible.

From the financial year 2028, the CSRD reporting obligation additionally applies to non-European companies that meet the following criteria:

• They generate a net turnover of over 150 million Euros in the EU.
• They have at least one subsidiary or branch in the EU.

CSRD: What formal requirements apply to publication?

The sustainability information must be published in the management report of the annual report and in a machine-readable format (iXBLR). Like the entire annual report, the sustainability information must also be reviewed and confirmed by independent auditors. In the first phase, an audit with limited assurance is sufficient.

CSRD: What content must be reported on?

The entire value chain, both towards suppliers and customers, must be included. Companies determine which topics must be reported on by means of a double materiality analysis. Some disclosures are mandatory according to the ESRS. The disclosure obligations under the EU Taxonomy are integrated into the sustainability reporting obligations. Companies falling under the LkSG or, in the future, under the Corporate Sustainable Due Diligence Directive (CSDDD), will also integrate these contents into the Sustainability Statement.