Council approves CSRD

On 28 November 2022 the Council announced that it has approved of the European Parliament’s position on the Corporate Sustainability Reporting Directive (CSRD) thereby adopting the legislative act.

On 21 June 2022, the Council and the European Parliament had reached a provisional agreement on the CSRD. On 10 November 2022 the Directive was adopted by the European Parliament.

After being signed by the President of the European Parliament and the President of the Council, it will be published in the Official Journal of the European Union and will enter into force 20 days afterwards. The new rules will need to be implemented by member states 18 months later.

Drafts of translations of the CSRD into other official EU languages can be found here. Drafts of the delegated acts are also available. On 22 November EFRAG, in its role as technical adviser, delivered the first set of Draft European Sustainability Reporting Standards (ESRS) to the European Commission. The DRSC prepared a Briefing Paper to provide an overview of these ESRS Drafts.