“The CSRD directive brings a lot of news. First of all, the scope is much larger than the one it replaces. Initially, there were only 11,000 companies in scope. Now, there are about 50,000 companies with CSRD. The impact will be greater, and we hope that the EU objectives will be achieved. This directive also includes standards that explain how to report, what to report and where to report,” Laura Negrisoiu, Sustainability Director, Mazars Romania said during Sustainability in Business Forum organized by The Diplomat-Bucharest and Sustainability-Today.

“The standards were revised in July, and some obligations were transformed into voluntary elements. Otherwise, the structure remained identical to the previous version. Also, very good news for companies that reported according to the GRI methodology is that there will be interoperability between the standards. Thus, if a company reports according to ESRS, that report will also comply with GRI standards. We are also waiting for a mapping of the obligations from the point of view of ESRS and GRI, so that companies that have reported according to GRI so far know exactly where to act. Another novelty is that the sustainability reports will have to be audited compulsorily. This is good news for users of these reports. In France, Spain, Italy, this obligation already exists, according to the non-financial reporting directive. Everyone wants the sustainability report to be as clear as the financial statements.

The CSRD directive can be used by companies to draw management’s attention to sustainability priorities, but also to obtain resources (time, money, etc.). The data reported by companies should be monitored by the state, by shareholders/investors, by auditors, and this mix can ensure that the directive is properly implemented.”

Full recording of the conference HERE