The New EU Corporate Sustainability Reporting Directive: What Does It Mean For Non-EU Companies

Summary

This article discusses the application of the EU Corporate Sustainability Reporting Directive (CSRD) to non-EU companies and look at the steps which potentially affected companies should be taking to prepare in 2024. The new CSRD is set to revolutionize ESG reporting for companies around the world. Certain large EU companies are already conducting double materiality assessments and collecting data for the first round of reports (due next year). EU subsidiaries of foreign companies and non-EU parent companies with significant business in the EU will soon be required to do the same.