The EDGE and EDGEplus Standards optimize CSRD compliance in DE&I topics and fast-track effective, consistent reporting across regulatory frameworks, using data sourced from HR and DE&I professionals. Whether reporting locally or globally, these standards serve as a robust, unified data source.
Using EDGE and EDGEplus Standards can boost CSRD compliance in DE&I, while offering a single, reliable data source for consistent reporting.
The EU Corporate Sustainability Reporting Directive (CSRD) has been approved and will require all EU companies to disclose data on the risks, opportunities, and impacts of their activities on people and the environment. This new directive will help ensure that EU companies and subsidiaries of global non-EU firms are transparent and accountable when it comes to their environmental and social impact. The purpose of the CSRD is to strengthen the existing requirements of the Non-Financial Reporting Directive (NFRD), and to ensure that companies report more detailed and reliable information on all relevant environmental, social and governance elements based on clearly delineated reporting standards.
Who is Impacted?
- Listed companies
- All large companies – companies with more than 250 employees and more than €40M turnover and/or more than €20M in total assets
- Non-EU companies with EU-based subsidiaries, or with securities on EU-regulated markets, which have a net turnover of over €150M within the EU
- Listed small and medium enterprises (SMEs) (SMEs have the option to opt out of the directive during a transitional period until 2028)
The Required Timeline
The sustainability reporting rules will start applying between 2024 and 2028.
- From 1 January 2024 for large public-interest companies with over 500 employees already subject to the NFRD (with reports due in 2025 based on 2024 fiscal year data)
- From 1 January 2025 for large companies that are not presently subject to the NFRD (with reports due in 2026 based on 2025 fiscal year data)
- From 1 January 2026 for listed SMEs (with reports due in 2027 based on 2026 fiscal year data). SMEs can opt out until 2028.
How Will EU CSRD Change DE&I Reporting?