Are you in scope for CSRD compliance?

Starting in 2024, the European Union's new Corporate Sustainability Reporting Directive (CSRD) will require approximately 50,000 companies to meet stringent data collection, management, and reporting standards. This marks a significant increase from the previous 11,000 companies. Here's what you need to know to determine if your company is in scope:

Who Must Comply with CSRD?

1- Large Companies: Any company that meets two of the following three criteria:

  • More than 250 employees on average during the financial year

  • A balance sheet total of over €20 million

  • A net turnover of more than €40 million

2 -Listed Companies: All listed companies operating in the EU, except listed micro-enterprises.

3- Non-EU Companies: Companies based outside the EU but with significant operations within the union, specifically those with subsidiaries in the EU generating a net turnover of more than €150 million.

Phased Implementation Timeline:

January 1, 2024: Large EU companies already subject to the Non-Financial Reporting Directive (NFRD) must report data for the year 2024 in 2025.

January 1, 2025: Large EU companies not previously subject to the NFRD must report data for the year 2025 in 2026.

January 1, 2026: Small and medium-sized enterprises (excluding micro-enterprises) must report data for the year 2026 in 2027.

January 1, 2028: Non-EU companies with significant EU operations must report data for the year 2028 in 2029.

How is large company defined?

A large company, for the purposes of the Corporate Sustainability Reporting Directive (CSRD), is defined based on meeting at least two of the following three criteria on its balance sheet date:

  1. More than 250 Employees: The company has an average of more than 250 employees during the financial year.

  2. Balance Sheet Total: The company's balance sheet total exceeds €20 million.

  3. Net Turnover: The company's net turnover is greater than €40 million.

If a company meets at least two of these criteria, it is classified as a large company and falls within the scope of the CSRD reporting requirements.

In Scope?

Contact our team to find out about comprehensive nature-based data measurement solutions to help you comply with CSRD reporting.