Implementation of ESRS Standards Under the EU Corporate Sustainability Reporting Directive (CSRD): Challenges and Opportunities for European Companies
Implementation of ESRS Standards Under the EU Corporate Sustainability Reporting Directive (CSRD): Challenges and Opportunities for European Companies

Author(s): Dimitar Hristov
Subject(s): Politics / Political Sciences, Politics, Economy, Law, Constitution, Jurisprudence, Energy and Environmental Studies, Environmental and Energy policy, EU-Approach / EU-Accession / EU-Development, Accounting - Business Administration, EU-Legislation, Green Transformation
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: CSRD; ESRS; sustainability reporting; circular economy; transparency
Summary/Abstract: In this paperwork discusses the challenges and opportunities which befall EU companies from the implementation of ESRS Standards under CSRD. The essence of the CSRD is analyzed, especially the Double Materiality Assessment (DMA) which is a key concept of the directive. The CSRD is based on ESRS Standards which in turn establish the guidelines for sustainable reporting. There are designed to promote transparency and accountability. Following the European Green Deal which has promised to become the first climate neutral continent by 2025, acting sustainable might occur challenging for some businesses. However, it also paves the way to transformation: transition to circular economy, optimizing the use of resources, focusing on shared values, and long-term future orientation.

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