Revision of the Non-Financial Reporting Directive

In one of the most significant developments in corporate reporting for many years, the European Commission (EC) recently adopted a proposal for a Corporate Sustainability Reporting Directive (CSRD), which would amend the requirements of the Non-Financial Reporting Directive (NFRD). The proposal would provide the statutory framework for European sustainability reporting standards, which would become mandatory for many companies in Europe. This article provides a preliminary overview of the key changes proposed by the Commission.