Beyond the GAAP no.173 - January 2023

In practice, the member states have until 6 July 2024 to transpose the CSRD and to specify certain requirements of the new directive, which some large companies will have to apply from 1 January 2024. 

The due process set out in the CSRD for adoption of the first set of European Sustainability Reporting Standards by the EC is also under way: the EC has recently received opinions from the ECB and the various European supervisory agencies, including ESMA. While these opinions are generally positive, there are a few points that ideally need to be clarified in the final standards. The EC is expected to launch a four-week public consultation on the draft Delegated Acts at the start of April, with adoption of the standards scheduled for end-June.