According to the requirements of the Corporate Sustainability Reporting Directive (CSRD for short), companies will in the future be required to report in detail on how they deal with social and environmental challenges together with their annual financial statements. To this end, on 24 July 2024, the German Federal Cabinet passed a draft law to implement the Corporate Sustainability Reporting Directive (EU Directive 2022/2464), or CSRD Implementation Act for short, after the German Federal Ministry of Justice published a corresponding draft bill on 22 March 2024. ...read more
Sustainability reporting
Taking responsibility for employees, society and the environment - this is for many small and medium-sized enterprises already a matter of course. Under the term Corporate Social Responsibility (CSR), this topic is now gaining increased public attention. But it is not only investors, suppliers and customers who are increasingly judging companies according to their sustainable actions; regulatory standards are also steadily increasing.
At the latest since the introduction of the expanded requirements for reporting, corporate governance and auditing at EU level, as well as the Supply Chain Sourcing Obligations Act, sustainable action alone is no longer enough. Medium-sized companies should also disclose their business strategy for achieving sustainability goals. For globally active companies, it is also important to take regulatory requirements at the global level into account.
We see holistic reporting as an added value for companies and their stakeholders and accompany them through the many new challenges, especially in the areas of climate protection and the preparation of climate balance sheets and climate strategies, compliance with human rights in the supply chain, non-financial reporting as well as the effects on corporate governance. In doing so, we always consider sustainable corporate governance from an interdisciplinary perspective and, if necessary, involve our experts from the fields of legal advice, tax advice and management consultancy.