CSRD
The CSRD (Corporate Sustainability Reporting Directive) is EU Directive 2022/2464 governing the publication of sustainability information by companies.
Adopted in December 2022, it replaces the earlier NFRD, substantially widens the scope of companies concerned, and requires standardised content published in the management report and verified by an independent third party.
Double materiality
The CSRD rests on double materiality, which distinguishes two perspectives:
- impact materiality: the effects of the company on the environment and society ;
- financial materiality: the effects of sustainability issues on the company's performance.
Information must be published as soon as it is material under either perspective. This is what distinguishes the CSRD from purely financial frameworks.
Timetable
The Omnibus package, proposed in February 2025, led to the "stop the clock" Directive (EU) 2025/794, which postponed waves two and three by two years. Large public-interest entities reported first for financial year 2024; other large undertakings now report for 2027; listed SMEs for 2028. Thresholds are also under revision.
Link with sustainable IT
The CSRD requires documenting environmental impacts, which includes those of the information system. Measurement approaches such as Bilan Carbone or Life cycle assessment feed this reporting directly.
Suppliers are affected indirectly: an organisation can only document its value chain emissions if its suppliers commit contractually to providing the data.
