- The EU Corporate Sustainability Reporting Directive (CSRD): The directive came into force in January 2023 and outlines which companies have to report and on what. Once fully implemented the CSRD is expected to cover 50,000 companies.
- The 12 European Sustainability Reporting Standards (ESRS): These standards are part of the CSRD and describe how companies must report on different dimensions of sustainability to ensure comparability between companies. The first set of these standards came into force 1 January 2024, including ESRS E5 which describes how companies should report on circularity, while others focus on climate, pollution, biodiversity etc.
- The EU Circular Economy Taxonomy: Lastly the Taxonomy describes under which circumstances companies can claim that their activities contribute to the EU’s sustainability goals. When the Taxonomy first came into force two years ago, it focused narrowly on climate, but as of January this year it has been expanded to now also cover circularity.
Want to know more?
Patrick Moloney
Director, Strategic Sustainability Consulting
+45 51 61 66 46