Public consultation on the Corporate Sustainability Reporting Directive

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Submissions
Documents
Proposed policy response

The Department of Enterprise, Trade and Employment is seeking the views of stakeholders and interested parties on the Member State options contained within the Corporate Sustainability Reporting Directive (EU) 2022/2464, ahead of its transposition into Irish law.

The Corporate Sustainability Reporting Directive (CSRD) arises from the European Green Deal’s climate change action objectives, to further enhance the disclosure by companies on climate and environmental data. The Directive expands the scope of the existing rules for non-financial reporting by very large companies and public-interest entities to large companies, large public-interest entities, and listed SMEs (excluding micros) on a main EU stock market. It introduces mandatory reporting standards developed by EFRAG (European Financial Reporting Advisory Group).

Companies in scope will be required to report annually in their management/directors’ report on environmental, social and governance (ESG) and human rights matters according to the EU mandatory standards to be known as the European Sustainability Reporting Standards. Sustainability information will be subject to a limited assurance (audit) until the adoption of reasonable assurance standards by the Commission in 2028. Ireland and other Member States now have 18 months to transpose the Directive, that is, July 2024.

The department requests the views of interested parties with regard to Member State options only. It is not consulting on the balance of the Directive, which have direct effect/mandatory applicability and Member States have no discretion in this regard. However, your comments and questions on all aspects of the Directive are also requested to facilitate the department’s work of transposition of the Directive.

Further details on the Directive and consultation are available in the consultation document below.

Submissions

Views from stakeholders and interested parties are requested no later than 5pm on Thursday, 9 March 2023. Submissions should be marked Corporate Sustainability Reporting Directive and should be emailed to CSRD@enterprise.gov.ie