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In April 2024, the European Council gave its final approval to the directive regarding deadlines for the implementation of the European Sustainability Reporting Standards (ESRSs) for specific sectors.

Currently, companies that fall within the scope of the Corporate Sustainability Reporting Directive (CSRD) have to disclose certain non-financial information in line with the sector-agnostic ESRSs. However, the European Financial Reporting Advisory Group (EFRAG) is currently working on sector-specific standards. This directive states that the adoption of the sector-specific standards has been postponed to 30th June 2026. The adoption of the general reporting standards for non-EU companies has also been postponed to 30th June 2026.

This adjustment will enable companies to prioritise the adoption of the initial set of ESRSs. Moreover, it will provide additional time for the development of sector-specific sustainability standards and general reporting standards which are applicable to non-EU entities.

For further information feel free to get in touch.

Mark Wirth


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