As reported by the Zeitung für kommunale Wirtschaft, the EU Commission has initiated infringement proceedings against Germany and 16 other EU countries because they have not fully transposed the EU Sustainability Reporting Directive (CSRD) into national law. This directive requires companies, including municipal utilities, to disclose information on climate protection, energy and water consumption and supply chains. The aim is to promote investment in sustainable economic activities. The deadline for transposing the directive into national law was 6 July 2023.
The countries concerned now have two months to respond to the Commission's warnings. If sufficient measures are not taken, the European Court of Justice could be called in and fines imposed. According to BrusselsMorning, the EU Commission is calling on Belgium, the Czech Republic, Germany, Estonia, Greece, Spain, Cyprus, Latvia, Luxembourg, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia and Finland to fully implement the directive on corporate sustainability reporting.
Although Germany published a draft CSRD implementation act at the end of July, it has yet to be passed by the German Bundestag. The delayed implementation is leading to planning uncertainties and time pressure for affected companies.
Is your company affected by the CSRD? Take precautions now in good time: The trade-e-bility management consultancy will work with the responsible employees in your company to set up a sustainability management system in small steps so that you are prepared for the new requirements by the time they are introduced.
Christopher Blauth and Jens Haasler will be happy to answer your questions: beratung@trade-e-bility.de
