Webinar | ESG Reporting in the European Union——Quo tendimus: Impact on Chinese businesses over the next three years
In this webinar, with the help of practical examples and different scenarios, we would like to give you a general insight into the regulatory landscape of the European Union and especially take a closer look at the CSRD and its reporting requirements, as well as the possible impact on Chinese businesses. Building the basis for CSRD reporting, we will also discuss the importance of the double materiality approach and analysis.
The EU Green Deal has set the goal to achieve climate neutrality for the European Union until 2050. In order to reach this goal, the EU wants to channel investments into sustainable solutions and businesses. One of the tools are regulations in the field of Environmental, Social and Governance (ESG) reporting. In the upcoming years, the Corporate Sustainability Reporting Directive (CSRD) will require more than 50,000 companies across the EU to report on sustainability in accordance with the European Sustainability Reporting Standards (ESRS). This regulatory will have a profound impact on Chinese businesses as well – directly or indirectly.
The CSRD regulation takes effect generally in four phases. For the current financial year of 2024, large companies which are already subject to the Non-financial Reporting Directive (NFRD), have to apply to the CSRD using the ESRS standards. In the financial year of 2025, all other large companies are subject to CSRD reporting, followed by capital market oriented SME from 2026. Latest in 2028, companies with non-EU parents (for example the subsidiaries in the EU of a Chinese parent company) with for example a net turnover above 150 million euros within the EU are required to fulfill the requirements of CSRD.
The first section of companies in the scope of the CSRD will soon have to start applying the ESRS. These standards require companies to report on a broad range of non-financial topics using data and qualitative information from various geographic areas and across the entire value chain. This is a significant step up in reporting requirements and presents a challenge for all companies.
Agenda:
EU Green Deal & Regulatory Landscape
Get ready for the Corporate Sustainability Reporting Directive (CSRD)
- Fulfilling the CSRD following the European Sustainability Reporting Standards (ESRS)
- Importance of the double materiality analysis
- EU Taxonomy
- Reporting process example
Exemplary scenarios – How does the CSRD apply to Chinese companies?
Synopsis
Q&A-Session
Date：October 24, 2024
Time：10:00 Berlin time/ 16:00 Beijing time
Language：English + Chinese simultaneous interpretation
Platform：ZOOM
Contact
