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ESG Reporting becoming mandatory for EU companies

Updated: Feb 26

France has already adopted the new CSRD directive since December 2023, and the penalties for non compliance are: 

🚨 up to €75,000 fine

🚨 threat of five years imprisonment


By the 6th of June 2024, Greece will have to enter into the national law the new CSRD directive adopted by the European Commission in 2021.

The Corporate Sustainability Reporting Directive (CSRD) commands all enterprises in Europe to start reporting yearly their ESG data, based on the European Sustainability Reporting Standards (ESRS).

For the year 2025 the scope will include all listed companies in the EU, including listed SME’s, but all large undertakings as well, which exceed two of the three criteria for two consecutive financial years

✔ Average number of more than 250 employees

✔ € 40 million net turnover

✔ € 20 million balance sheet total

By 2027 the new directive will incorporate all SME’s to report for the financial year 2026, with:

✔ Average number of more than 10 employees

✔ € 700.000 net turnover

 The report includes more than 80 disclosures and more than 1.100 data points.  

The new regulation requires that the companies run Double Materiality for this purpose, incorporating both the impact of the company’s operations to the environment and the society, but also the effect of the climate change to the company’s operations.

The reporting will be in digital tagging to enable machine reading and easy analysis.

SME’s are advised to start the journey of ESG reporting the soonest possible, so they become aware of the requested data for reporting and the strategic approach to their targets and KPI’s on Environmental, Social and Governance issues.

Reporting based on the GRI criteria is a good starting point for those companies which do not fall under the regulation in the short term.

How can we help you prepare for the CSRD requirements?


Most organisations will need help in building a solid and transparent ESG report in preparation for the CSRD requirements. Our ESG Reporting Accelerator Program can support you with expert advice and sector-specific knowledge on your journey towards a compliant, integrated annual report. 


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