New EU sustainability reporting rules for multinationals  

From 2024, large companies will need to disclose information about their impact on the environment, human rights and social standards.

MEPs are set to debate on Wednesday and adopt the agreement on new reporting rules for large companies on Thursday. The Corporate Sustainability Reporting Directive (CSRD) will make businesses more publicly accountable by obliging them to regularly disclose data on their impact on people and the environment. The aim is to bring sustainability reporting on an equal footing with financial reporting over time, by allowing the public to finally access reliable and comparable data.

The CSRD amends existing reporting rules under the Non-Financial Reporting Directive (NFRD) by introducing more detailed reporting requirements. The rules will come into force between 2024 and 2028 and apply to all large companies (with over 250 employees), whether listed on markets or not, including non-EU companies making more than 150 million euro in the EU. Nearly 50 000 companies in the EU are expected to fall under the new scope, compared to about 11 000 companies covered by the NFRD.


The Commission presented its proposal on a Corporate Sustainability Reporting Directive on 21 April 2021. Parliament called for a revision of the NFRD in its 2018 resolution, and set out its recommendations on sustainable corporate governance in its 2020 resolution. The CSRD is one of the cornerstones of the European Green Deal and the Sustainable Finance Agenda.