Practical Guide to CSRD and ESRS Implementation

This white paper serves as a practical guide for companies navigating the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS). It outlines the significant changes introduced by the Omnibus Package and provides a roadmap for compliance with the new reporting requirements. The document details who is required to report and the deadlines for compliance, emphasizing the importance of understanding the new standards. It explains the concept of double materiality and its implications for sustainability reporting, highlighting the mandatory nature of the ESRS compared to previous regulations. The paper also discusses the phased implementation of the CSRD, including potential exemptions and relief measures for smaller companies. Additionally, it addresses the expected changes in reporting formats and the integration of sustainability data into regular financial reporting processes. The guide aims to equip decision-makers in medium-sized and large companies with the necessary knowledge and practical recommendations for effective implementation.