Juin 2024

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Corporate Sustainability Reporting Directive (CSRD)

Article written by Alexander Vidler, Senior ESG Consultant and Helena Neave, ESG Consultant.



The EU commission announced the adoption of the Corporate Sustainability Reporting Directive (CSRD), in line with the EU Green Deal, which came into force in January 2023. This new EU Directive, incorporating NFRD, aims to drive accountability and transparency whilst promoting sustainable practices and investments.

CSRD is built around the concept of double materiality. Requiring companies to identify their impacts on people and the environment, ‘impact materiality’, and sustainability matters that financially impact the undertaking, ‘financial materiality’. This enables companies and investors to deepen their understanding through access to information of sustainability risks and opportunities a company may be facing.



CSRD substantially increases reporting requirements of companies that fall within scope. Companies must publish their information in a dedicated section of their company management reports.

Companies in scope must report according to the European Sustainability Reporting Standards (ESRS), developed by EFRAG. ESRS standards outline the variety of ESG metrics disclosure requirements that in-scope companies will need to report on to be compliant.

There are >1,000 distinct data points across 10 key ESG topics. Topics include:

  • Environmental such as climate change, pollution and biodiversity
  • Social including own workforce and workers in the value chain
  • Governance including business ethics


Disclosures need to cover both quantitative and qualitative measures across short-, medium-, and long-term horizons. It also provides support and guidance to companies to conduct accurate double materiality assessments.



It is estimated that about 50,000 companies globally will be required to disclose, track, and measure their sustainability performance. CSRD will apply to all:

  • Compagnies in-scope under NFRD
  • Companies listed on EU market and large companies beyond NFRD (fulfilling at least two out of the three):
  1. Net turnover of >EUR 50M
  2. Balance sheet assets > EUR 25M
  3. > 250 employees
  • Listed SMEs
  • Non-EU companies with a net turnover > EUR 150M in the EU and ≥ 1 EU subsidiary


CSRD will also feature mandatory assurance for reporting by independent assurance providers against sustainability reporting standards.



The directive will be rolled out using a phased approach, starting in January 2024. Timing of reporting requirements will vary depending on the type of entity. Current timelines are as follows:

2024 2025 2026 2028
First reporting period under CSRD

Reporting in January 2025 for FY2024

In scope:

  • Large public entities
  • Companies covered under NFRD meeting 2 of the 3:
    • >500 employees
    • €40M in net turnover
    • €20M in assets
First reporting period under CSRD for large EU companies

Reporting in 2026 for FY2025

In scope:

  • Large companies beyond NFRD meeting 2 of the 3:
    • >250 employees
    • €50M in net turnover
    • €25M in assets
First reporting period under CSRD for listed SMEs


Reporting in 2027 for FY2026


In scope:

  • Listed SMEs
  • Voluntary non-listed SMEs
Application of CSRD to non-EU companies


Reporting in 2029 for FY2028


In scope:

  • All non-EU companies with:
    • >€150M net turnover (in EU)
    • ≥1 EU subsidiary




Using Périclès Group’s expertise surrounding CSRD, and our knowledge gathered from previous missions, we have a strong track record of understanding and implementing various strategies to mitigate the reporting requirements enforced by CSRD.

We create a bespoke approach for each client, depending on their needs. However, our tailored CSRD offering may include, but is not limited to:

Metric & Compliance Review

Provision of a unique understanding of the metrics associated with CSRD, both qualitative and quantitative, ascertained by working alongside some of the largest data providers in the world, ensuring alignment with specific compliance laws.

Maturity Assessment

CSRD allows for a harmonised form of reporting and measuring. However, Périclès Group recognises sustainability & ESG is a journey unique to each firm. Provision of a Sustainability Maturity Assessment will assist firms with understanding where they are in the journey relative to both internal and external mandates.

Corporate Sustainability Structuring

Structuring financial and corporate entities to ensure not only alignment with regulatory constraints but also to achieve internal and external ambitions allows Périclès Group to assist firms with putting the structures in place to promote sustainable practices for years to come.

Selection of External Service Providers

There is no such thing as a one-size-fits-all solution when it comes to sustainability; Périclès Group has helped develop and works alongside some of the most advanced service providers in the marketplace, offering assistance with CSRD and will use our unique relationships to provide the best solutions for clients.

Training & Education

Key stakeholder engagement and education will allow firms to produce the data required and align members of their team to build out and achieve any sustainability goals the firm will have; Périclès Group’s unparalleled understanding of CSRD and sustainability can help educate and train all stakeholders across an organisation.


For any questions or more details on our CSRD offering, please don’t hesitate to contact us.


Want to find out more about Pericles Group?

Périclès Group is an independent consulting firm in strategy, organization, actuarial, project management and operational support, specialized in the fields of Banking, Finance, Insurance and Social Protection.

Périclès Group places expertise at the heart of its know-how. The Group is present in France, Luxembourg, the United Kingdom, Switzerland, Luxembourg, and Hong Kong.


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