Irish Times Training are hosting an intensive online programme this month, which will help business leaders get to grips with the recent mandatory EU CSRD (Corporate Sustainability Reporting Directive).
The directive updates and replaces the existing Non-Financial Reporting Directive (NFRD) and comes into effect from January 2024 – though experts predict this will be a significant challenge for large Irish companies and international businesses based in Ireland.
Regulations and compliance
The new regulation contains a new principle of ‘double materiality’, which requires companies to report on how climate change and other sustainability issues impact their business and how their own operations affect the wider environment and people.
“CSRD is designed to make corporate sustainability reporting more common, consistent and standardised – in a similar vein to financial accounting and reporting,” said Mary Whitelaw, chief sustainability and corporate affairs officer at AIB in the Sustainability Ireland magazine published in The Irish Times this week.
About 10,000 companies across the EU will be affected by the new regulations which affects listed companies in the EU that exceed two of the following thresholds: 250 employees; €40 million in annual net turnover; and/or €20 million balance-sheet total. In the coming years this will expand to non-listed and non-EU parent companies.
If your company meets these criteria you need to get to grips with CSRD now!
The essential programme for business leaders
Join Irish Times Training on November 30th for an intensive half-day online programme which will provide business leaders with a deep understanding of the principles of Environmental, Social, and Governance (ESG), and the implications of the CSRD.
You’ll leave with a solid grasp of ESG fundamentals and a good understanding of the CSRD framework, thereby ensuring your organisation’s ability to contribute to responsible and compliant business practices.