Summary of key changes introduced by CSRD
| Context of key change | NFRD | CSRD |
|---|---|---|
| Policies and requirements |
| On top of the NFRD requirements, reporting companies are required to provide information about
|
| New concept | No reference | The double materiality approach: reporting companies report on how their business impact and impacted by the environment and the social matters |
| Detailed reporting disclosure | No reporting standards and lacks explicit comparability | New details mandatory sustainability reporting standards ESRS to disclose material topics for stakeholders |
| Audit/assurance | No requirement for third-party assurance (limited) | The CSRD introduces an EU-wide requirement for limited assurance on sustainability information, with moving toward a reasonable assurance |
| Reporting format | The disclosure is done online or in PDF format | Requires disclosure in XHTML format according to ESEF regulation |
| Located reporting | No reference | Disclosure must be included in the company’s management report as a single report in a digital, machine-readable format |
| Context of key change | ||
|---|---|---|
| Policies and requirements | Environmental protection Social responsibility and treatment of employees Respect for human rights Anti-corruption and bribery Diversity on company boards | On top of the Their strategy, targets, the role of the board and management The principle adverse impacts connected to the company and its value chain, intangibles and how they identified the information they report |
| New concept | No reference | The double materiality approach: reporting companies report on how their business impact and impacted by the environment and the social matters |
| Detailed reporting disclosure | No reporting standards and lacks explicit comparability | New details mandatory sustainability reporting standards |
| Audit/assurance | No requirement for third-party assurance (limited) | The |
| Reporting format | The disclosure is done online or in | Requires disclosure in |
| Located reporting | No reference | Disclosure must be included in the company’s management report as a single report in a digital, machine-readable format |
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