New Decision on Sustainability Reporting (CSRD)

Redovisning | 19.06.2024

by Azets Sverige

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The Corporate Sustainability Reporting Directive (CSRD) is an EU directive that tightens the requirements for how companies should report their sustainability efforts. The Swedish Parliament has approved the adoption of the directive, and the new sustainability reporting rules will come into force on July 1, 2024.


What is the purpose of sustainability reporting? 

The purpose of the reporting is to provide reliable and comparable corporate information on the environment, social responsibility, and corporate governance. The reporting should also help direct capital towards sustainable investments.


What do the new rules entail? 

Legal requirements for sustainability reporting have existed for several years, and society's demand for sustainability information is increasing. The new rules now established require more detailed sustainability information, such as greenhouse gas emissions and information on changes in gender distribution on corporate boards. 

Sustainability reporting should also specify the relevant sustainability goals for the respective operations. It is up to each company to decide on these aspects and ensure that the goals are followed up. 

Sustainability reporting should be part of the management report in the annual report and should be reviewed by an authorized auditor.


Which companies are covered by the rules? 

Swedish companies or groups with over 500 employees will start reporting according to the new rules (CSRD) from the financial year starting after June 30, 2024. This is the first stage, and within a 4-year period, more or less all companies in Sweden will need to conduct some form of sustainability reporting.


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