The Corporate Sustainability Reporting Directive (CSRD) is an extension of what you already knew about the Non-Financial Reporting Statement (EINF).
Both regulations aim to promote transparency in corporate sustainability. However, the CSRD introduces several key changes that will differentiate it from the practices established by the EINF.
We explain the main differences between the EINF and CSRD so you can understand how they will affect you.
EINF: the reporting requirements only applied to a limited number of companies. This meant that many medium-sized or non-listed companies were not required to report sustainability data.
CSRD Directive: in comparison, the directive significantly broadens the scope of mandatory reporting. It no longer applies only to listed companies; large non-listed companies and some medium-sized enterprises that meet the thresholds established by the new directive will also be required to comply.
If you're not sure whether the CSRD applies to your company, you can read more details in this article.
EINF: required companies to report on key areas like human rights, social impact, and anti-corruption efforts. While these topics are essential, the EINF did not require such detailed analysis or include other critical issues.
CSRD Directive: expands the topics that must be covered and demands a much more detailed analysis. For instance, companies now need to provide exhaustive information on climate risks, the energy transition, and how they manage their supply chains.
EINF: the concept of materiality in the EINF primarily focused on the impact of business activities on the environment and society, without requiring an analysis of the sustainability risks that the business itself faced.
CSRD Directive: introduces the concept of double materiality. This means that companies must assess not only how their activities impact the environment (as was the case in the EINF) but also identify and evaluate the risks that external sustainability factors pose to the business. This double materiality approach requires companies to reflect not only on their impact but also on the external risks that could affect their strategy and long-term viability.
If you want to learn more about double materiality, you can read it here.
EINF: external auditing was recommended but not mandatory.
CSRD Directive: the verification process changes dramatically. Now, external verification of data is mandatory. This means that all companies subject to the CSRD must have their sustainability reports audited externally to ensure accuracy and compliance with the new standards set by the directive. Companies must meet the requirements of the ICAC (Institute of Accounting and Auditing of Accounts).
In addition, this verification will be accompanied by penalties and fines for failures, non-compliance, or other reasons.
The CSRD is not just an extension of the EINF; it represents a much greater workload. It requires a much more detailed level of information, covers more areas, and mandates the implementation of double materiality and external verification.
This translates into: managing more data, conducting deeper analysis on sustainability risks and opportunities, and coordinating multiple departments within your company. We've outlined the key changes that will drive this increased workload
If you already have a solid foundation with EINF data, you’ve made progress, but the CSRD is much broader and more detailed. Don’t wait until 2026 to start adapting.
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