On November 15, 2024, the Spanish Parliament presented the Transposition Law on Corporate Information on Sustainability, which marks the transposition of the CSRD in Spain.
Don't worry, because we have taken care of reading it for you. In this post we summarize everything you need to know.
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Large companies, listed SMEs and subsidiaries of foreign companies with significant operations in the EU are required to report. The latter are those with net revenues of more than €150M in the EU for two consecutive financial years or a subsidiary or branch generating more than €40M in the region.
The reports should include the business model, sustainability objectives, risks, environmental and social impacts and the value chain. All of these should be integrated into the management report.
It regulates how to incorporate the sustainability report in the annual accounts. It also defines the role of verifiers, who will ensure that the information complies with the standards.
Finally, the Account Auditing Law details the technical and ethical requirements (for example, the independence of the auditor).
All this will be supervised by the ICAC (Instituto de Contabilidad y Auditoría de Cuentas), in order to maintain quality control.
Additional provisions are the sections within a law or regulation that include clarifications or specifications. We explain you the three that are included in the transposition.
They are obliged to report information on sustainability that applies to large companies. However, certain exceptions are also introduced:
Both of these cases must comply with sustainability obligations:
It will be the central focus of the reports. It requires companies to assess their environmental impact on the planet and the impact of the planet for their company.
If you want to learn more about dual materiality you can read more here.
👉 Request a summary document on the transposition of the law.
Analisi del calcolo dell'impronta di carbonio tutte le emissioni generate durante il ciclo di vita di un prodotto, compresi l'estrazione, la produzione, il trasporto, l'uso e lo smaltimento delle materie prime.
Le metodologie più riconosciute sono:
Strumenti digitali come Dcycle semplifica il processo, fornendo informazioni accurate e fruibili.
Alcune strategie richiedono investimento iniziale, ma i benefici a lungo termine superano i costi.
Investire nella riduzione delle emissioni di carbonio non è solo un'azione ambientale, è un strategia aziendale intelligente.