Last month it was announced that the EU was set to become a front-runner in global sustainability reporting standards by formally adopting the Corporate Sustainable Reporting Directive (CSRD). On Monday, the EU Council announced that CSRD was officially adopted and approved. This new directive will expand on the already existing Non-Financial Reporting Directive (NFRD). The hope is that CSRD will introduce more detailed reporting requirements on companies’ impact on the environment, human rights and social standards.

The EU has become a front-runner in global sustainability reporting standards by formally adopting the Corporate Sustainable Reporting Directive (CSRD). With CSRD officially adopted, this new directive will expand on the already existing Non-Financial Reporting Directive (NFRD). The goal is that CSRD will introduce more detailed reporting requirements on companies’ impact on the environment, human rights and social standards.