The CSRD and the ESRS standards - what, who, when?

Modified on Tue, 6 Aug, 2024 at 2:55 PM

The ESRS Standards


The ESRS were developed in response to the need for more consistent and comparable sustainability reporting across the EU. Prior to their introduction, sustainability reporting varied significantly in scope, detail, and quality, making it difficult for stakeholders to assess and compare companies' sustainability performance. The ESRS aim to address these inconsistencies by providing a uniform reporting framework that reflects the EU's sustainability objectives and aligns with international reporting initiatives 


The ESRS are structured into a set of crosscutting and thematic standards. The crosscutting standards provide the foundational principles and general reporting requirements applicable to all companies, while the thematic standards delve into specific sustainability issues such as climate change, biodiversity, and social welfare. They also rely on data from other legislative frameworks or standards, such as the EU Taxonomy or the GHG protocol. 


Who must report, and when?


The planned deployment of the CSRD will require all EU-listed companies (except listed micro-enterprises) to comply by 2029, and all large private companies by 2025. Additionally, companies not established in the EU but listed on regulated EU markets, as well as European subsidiaries of companies located outside the EU, are also included in the scope of the CSRD. The CSRD will be mandatory for all large companies by 2026. A company is considered large if at least two of the following conditions are met:

  • Turnover of more than 50 million euros 
  • Total balance sheet equal to or exceeding 25 million euros 
  • More than 250 employees 


Here is the detailed timeline overview: 


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