Who has to comply?

Non-EU companies listed on a regulated market in the EU (such as bonds or stocks) will have to comply if they meet two or more of the following criteria:

  • €900,000 or more in net turnover
  • €450,000 or more in assets
  • 10 or more employees

Non-EU companies with an annual EU revenue exceeding €150 million in each of the last two consecutive financial years and an EU branch or an EU subsidiary will have to comply if:

  • EU branch generates a net turnover exceeding €40 million
  • EU subsidiary meets two or more of the following criteria:
    • €40 million or more in net turnover
    • €20 million or more in assets
    • 250 or more employees
  • EU subsidiary with securities listed on a regulated market in the EU (such as bonds or stocks) meets two or more of the following criteria:
    • €900,000 or more in net turnover
    • €450,000 or more in assets
    • 10 or more employees

The CSRD’s timeline:

  • Reporting in 2025 on FY 2024: large non-EU companies with more than 500 employees listed on EU-regulated markets.
  • Reporting in 2026 on FY 2025: other large non-EU companies listed on EU-regulated markets.
  • Reporting in 2027 on FY 2026: non-EU small and medium enterprises listed on EU-regulated markets.
  • Reporting in 2029 on FY 2028: Non-EU companies that generate over €150 million per year in the EU and that have either an EU branch with a turnover exceeding €40 million or an EU subsidiary that is a large company or a listed small or medium enterprise.

CSRD covers the following European Sustainability Reporting Standards (ESRS):

  • ESRS 1 General requirements
  • Mandatory standards:
    • ESRS 2 General disclosures
  • Mandatory standards if deemed material to the business:
    • ESRS E1 Climate change
    • ESRS E2 Pollution
    • ESRS E3 Water and marine resources
    • ESRS E4 Biodiversity and ecosystems
    • ESRS E5 Resource use and circular economy
    • ESRS S1 Own workforce
    • ESRS S2 Workers in the value chain
    • ESRS S3 Affected communities
    • ESRS S4 Consumers and end-users
    • ESRS G1 Business conduct

Go to report

Decoding CSRD

Normative’s straightforward handbook explains how to comply with the CSRD – and gain real business value in the process.

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