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EU Sustainability Developments Issue 4
Implication of sector specific ESRS and third country ESRS delay: no postponement for CSRD
This publication discusses the impact of the February 2024 deferral of release of sector-specific European Sustainability Reporting Standards (ESRS) and third country company ESRS.
The application date of the Corporate Sustainability Reporting Directive (CSRD) has not changed. However, the adoption of the sector-specific ESRS and the third country company ESRS has been postponed by two years. In addition, the definition of ‘large’ companies that fall within scope of the CSRD has changed. The definition was modified by the Delegated Act at the end of 2023, which had the effect of increasing by 25% the amounts in Euro of turnover and assets stated in the CSRD.