Other news from ISM News Update no. 126:

• Performance lists Paris MoU
• EU-ETS and Fuel EU Maritime
• Update valid from 1 July 2023 on Interim guidance to shipping related to the situation in Ukraine

Corporate Sustainability Reporting Directive (CSRD) & ESG reporting

The EU’s Corporate Sustainability Reporting Directive (CSRD) is transforming ESG reporting. From 2024, large companies will be required to report on sustainability policy and performance. The CSRD requires companies to disclose the environmental and social consequences of their activities. Companies must have this information verified by an accountant. The CSRD applies if the company meets at least 2 of these requirements:

more than € 40 million net turnover

more than € 20 million on the balance sheet

250 or more employees

Small and medium-sized companies are exempted from the CSRD at least until fiscal year 2026. But they do have to deal with requirements from their CSRD-compliant customers or suppliers. ESG stands for Environmental, Social and Governance and refers to the three central factors in measuring the sustainability of an investment.

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