The CSRD (Corporate Sustainability Reporting Directive, Directive (EU) 2022/2464) requires large European companies to publish a sustainability statement structured around EFRAG's ESRS, replacing the previous NFRD. The statement covers climate, social matters and governance, rests on a double materiality assessment, is verified by an independent third party and must be tagged in XBRL. Since the Omnibus Directive entered into force on 18 March 2026, only companies with more than 1,000 employees and €450 million turnover are covered, representing more than 80% fewer companies than before the reform.
Read the source article: CSRD: who is in scope after Omnibus? The 2026 SME guide