GRI: Making the Corporate Sustainability Reporting Directive accessible for all

17 May 2024

New ‘CSRD Essentials’ series explains the EU's mandatory sustainability reporting requirements. A new publication addresses key themes on the implementation of the Corporate Sustainability Reporting Directive (CSRD), the legislation adopted by the EU in December 2022 and now in effect.

CSRD Essentials simplifies key aspects of the new Directive and is the result of joint working between GRI, Pascal Durand, Member of the European Parliament and CSRD Rapporteur, and the Lefebvre – Sarrut Group. A practical and free resource addressed to policymakers and sustainability reporters, it encapsulates 11 core briefings that explain the CSRD in accessible language.

Under the CSRD, more than 42,500 EU-based companies, plus several thousand businesses outside the EU, are required to report on both how sustainability issues affect corporate performance and how business activities impact society and the environment. The Directive means increased sustainability reporting requirements and data collection – steps that may seem challenging for some reporting companies.

The adoption of the CSRD was a cornerstone of this European Parliament mandate and the Green Deal, as it created clearer and harmonized sustainability reporting standards for companies. But the adoption of legal texts, albeit necessary, is not enough: all the relevant stakeholders must also seize it and make it their own. With the ‘CSRD Essentials’ project, we established a close dialogue with them on the rationale behind the text and the best concrete steps to be taken for its implementation. This way, the CSRD can now truly help build a more transparent, fairer, and environmentally responsible business model, fit for our century and its new challenges.

Pascal Durand MEP, CSRD Rapporteur

The CSRD represents a turning point in support of the global adoption of more sustainable business practices, a mission GRI has been aligned with since our very beginning. By mandating comprehensive sustainability reporting, the EU is setting a powerful example for the rest of the world. Moreover, the European Sustainability Reporting Standards, as mandated within the CSRD, are closely aligned with the widely used GRI Standards in relation to impacts, therefore the effective implementation of the Directive can be an enabler for increased global alignment in sustainability reporting.

Jessica Fries, Chair of the GRI Supervisory Board

GRI


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