Ecopreneur.eu – the European Sustainable Business Federation – and its seven member organisations welcome the official proposal for a Corporate Sustainability Reporting Directive (CSRD) that was published by the European Council under the leadership of the French Presidency on 18.02.2022.
However, we strongly disapprove of the 2-3 year delay proposed. It would cause companies concerned to “sit back and relax” for one or two years instead of getting ready now, clearly contradict the Council’s own call for “rapid adoption”, create an unlevel playing field for companies already falling under the NFRD, and lead to transparency gaps for stakeholders and increased risks for investors.
We instead advocate to make the directive mandatory for reporting as of financial year 2024, launch massive information campaigns for companies and give maximum support to the European Financial Reporting Advisory Group (EFRAG) to finalise the European non-financial reporting standard in time.
In this way the delay proposed by the Council can be avoided while proper implementation of the Directive is improved.
Read the full position paper