CSRD compliance with your sustainability report

Ready for the CSRD reporting obligation? VERSO accompanies you step by step.

The Corporate Sustainability Directive (CSRD) will be introduced from 2024. In addition to high regulatory requirements, the CSRD reporting obligation raises many questions: Does it apply to my company? What needs to be done? And how can it be implemented in compliance with the law? You will find answers together with VERSO. Simple, pragmatic and effective.

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CSRD-compliant with the pioneer of the sustainability report

VERSO has been supporting companies on their way to sustainability reporting since 2010 – with software, consulting and training. Benefit from our knowledge!

ESG software – established and audit-proof

With the VERSO ESG Hub, you can create audit-proof annual and sustainability reports in no time at all. The software is 100% CSRD-compliant.

Advice on the implementation of the CSRD

Are you at a loss? With reliable advice at eye level, our long-standing sustainability experts will show you the next steps!

Learning what is needed now

Together we will find answers to all your questions about the CSRD reporting obligation – in a personal meeting, on the VERSO blog or in the VERSO Academy.

What is the CSRD?

As one of the three pillars of the European Green Deal, the CSRD reporting obligation obliges European companies to report on sustainability. It replaces the old EU NFRD Directive and the German CSR-RUG Act.

From 2024, the new directive will apply to over 50,000 companies in the EU – 15,000 of them in Germany alone. Under certain conditions, non-EU companies and suppliers of companies subject to CSRD are also affected.
VERSO supports you with specialized software and comprehensive advice to easily create your legally compliant sustainability report and achieve ESG compliance.

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What changes does the CSRD reporting obligation bring?

Sustainability reports should create transparency and comparability. The CSRD therefore places numerous new demands on your company. Requirements that can only be met efficiently with the help of a digital tool. With the VERSO ESG Hub, you gain security through a clear data situation and strategically fulfill your CSRD reporting obligations.

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Standardized, extended reports

EFRAG has developed the European Sustainability Standards (ESRS) especially for the CSRD. introduced. As a set of CSRD rules, the ESRS prescribe the content and form of your sustainability reports. They incorporate existing standards. More and, above all, more detailed data is required.

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External examinations

The CSRD also sets new audit requirements for sustainability reports. On the one hand, an inspection is now carried out by external auditors on the basis of defined inspection standards. Secondly, the depth of the audit is brought closer to the audit quality of financial reports in two steps.

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Sustainability in the management report

The Green Deal makes it clear that sustainability can no longer take second place. By designating sustainability information as a mandatory part of the management report, the CSRD reporting obligation places its priority on the same level as financial reporting.

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Standardized reporting format

In addition to comparable standards, uniformity and transparency also require uniform reporting formats. Here too, the CSRD draws parallels with financial reporting: in future, sustainability information will be published in the “European Single Electronic Format” (ESEF).

To which companies does the CSRD reporting obligation apply – and from when?

The CSRD came into force in 2023 and will initially apply from 2024 to all companies that are already required to report under the NFRD or CSR-RUG. In 2025, the CSRD reporting obligation will apply to medium-sized/large companies that meet two of the following criteria:

  • > 250 employees
  • > 25 million € Balance sheet total
  • > 50 million € net revenue

From 2027, all listed SMEs, small and non-complex credit institutions and captive (re)insurance companies must also prepare a CSRD report covering the year 2026 – although they can defer their deadline until 2028. Micro-enterprises are exempt if their balance sheet total does not exceed € 450 thousand, net sales do not exceed € 900 thousand or the number of employees does not exceed 10.

In 2028, the CSRD reporting obligation will be extended to non-EU companies that record > €150 million in net sales within the EU and operate a branch or at least one subsidiary in the EU.

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Are you also affected by the CSRD?

If you are still unsure as to when your company will have to comply with the CSRD reporting obligation, simply take our free CSRD Readiness Check!

You will receive the evaluation with your results and specific recommendations for action by e-mail within a few minutes.

CSRD Readiness Check

How are CSRD, SFDR and the EU taxonomy related?

You already know that the CSRD is an important part of implementing the Green Deal. But how does all this fit in with the other directives and regulations?

CSRD (Corporate Sustainability Reporting Directive)

It standardizes and expands the sustainability reporting of companies.

More about the CSRD

EU taxonomy

It defines which economic activities are classified as sustainable. can be used.

More on the EU taxonomy

SFDR (Sustainable Finance Disclosure Regulation)

It obliges financial market participants to disclose sustainability information.

More about SFDR
Infografik: Zusammenhang zwischen CSRD, EU-Taxonomie und SFDR

Find out more about the connections on our blog!

What does “double materiality” mean in the CSRD?

The CSRD reporting obligation also brings with it a new understanding of materiality. More specifically, relevant topics for the CSR report will in future be identified on the basis of“dual materiality“. Companies are therefore obliged to report both on the impact of their own business operations on people and the environment and on the impact of sustainability aspects on the company.
Double materiality thus replaces the old regulation, according to which companies were only required to report if both materiality aspects applied. Our experienced sustainability experts will be happy to support you with the materiality analysis and the entire reporting process.

How do I combine my annual and sustainability reports in a meaningful way?

Annual and sustainability reports are closely linked with the introduction of the CSRD reporting obligation. VERSO not only provides you with audited annual and sustainability reports from a single source, but also combines both into a holistic report that meets all legal requirements. For maximum transparency of your sustainability.

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The CSRD at a glance

In the factsheet you will find the most important information on CSRD to take away – or pass on.