CSRD shift & new thresholds - CURENTIS shows what to do
In February 2025, the European Commission published initial drafts for the revision of sustainability reporting requirements as part of the omnibus procedure. The proposed changes, which we have already reported on, have the potential to significantly change the reporting obligations of many companies - both in terms of content and timing.
The drafts aim to comprehensively simplify the European Sustainability Reporting Standards (ESRS). The aim is to reduce the complexity and scope of reporting - in particular by reducing non-essential data requirements.
In addition, the group of reporting entities will be redefined:
In future, only large companies and groups that meet the following criteria will be required to report:
- 1000 employees
- 50 million euros annual turnover or
- 25 million euros balance sheet total
In the fast-track procedure, the European Parliament is seeking a postponement for companies that are not yet subject to the CSRD reporting obligation:
- Wave 2 ¹ -Companies: First-time reporting for the 2027 financial year (instead of 2025)
- Wave 3 ² -Companies: First-time reporting for the 2028 financial year (instead of 2026)
This is intended to prevent companies from having to fulfill reporting obligations in the short term, even though they would no longer be required to report once the new criteria come into force. The aim is to avoid unnecessary costs and effort.
The Council of the European Union has already agreed to this postponement. The European Parliament is examining the drafts in an urgent procedure with the aim of reaching an agreement by June 2025 at the latest.
At the same time, EFRAG was tasked with submitting concrete proposals for adapting the ESRS by October 31, 2025.
Conclusion
The dynamics surrounding the requirements of the CSRD remain high. Companies should keep a close eye on developments and analyze at an early stage how the changes will affect their individual sustainability reporting.
As an experienced management consultancy in the field of sustainability and regulation, CURENTIS AG is happy to assist you - with sound analysis, strategic advice and practical implementation.
Talk to us - we will guide you safely through the CSRD jungle.
¹ Large companies that are not public interest entities
