Following on from its webinar on the Corporate Sustainability Reporting Directive (CSRD) it held last week, the Department of Enterprise, Trade and Employment (DETE) has this week issued a public consultation seeking the views of interested parties on the member state options in the CSRD. More details can be found here and you can access the consultation here. Even though it is not consulting on direct effect/mandatory provisions, comments and questions on all aspects of the CSRD are invited to facilitate DETE’s work in the transposition of the CSRD. The consultation is open until 5pm on Thursday 9 March 2023.
For reader’s information, the CSRD is a European directive requiring certain companies to disclose information on sustainability-related information. The directive aims to modernise and strengthen the rules about the type of social and environmental information that companies will have to report. The CSRD envisages the adoption of European Sustainability Reporting Standards which seek to ensure that investors and other stakeholders have access to the information they need to assess investment risks arising from climate change and other sustainability issues. They seek to create a culture of transparency about the impact of companies on people and the environment.
The CSRD was approved by the European Parliament and the EU Council in late 2022 and was published in the EU Official Journal on 16 December. Following this publication, EU member states have 18 months to transpose the directive into their own national laws.
Finally, readers may also be interested in accessing the speakers’ PowerPoint slides from the DETE webinar to get further information on the various presentations made. There was a presentation from DETE, PWC and EFRAG on the CSRD and a presentation by DETE on a Proposal for a Directive on Corporate Sustainability Due Diligence.
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