Ireland officially adopted the EU’s Corporate Sustainability Reporting Directive (CSRD) into Irish law, effective July 6. Read Tom Hayes’s full analysis.
Experts say that the new law will make sustainability reporting as important as financial statements. The law requires that companies report how their environmental and social impacts affect their financial performance.
Who is covered: US multinationals with financial securities listed in the EU may be affected this year, and those with large subsidiaries and revenues in Europe could be impacted in the future. Companies must review their situations to comply with the new requirements.
Transposition delay: The deadline for countries to adopt the EU law ended July 6th with only a few countries, like Ireland, Denmark, Finland, and France, implementing the directive. Other EU countries are still in the drafting stage. HR Policy Global will monitor the implementation and provide further analysis as more countries adopt the Directive.
What’s next: Join us for our September Europe meeting to discuss the implications of this new law, where we will cover best practices for compliance and provide insights from industry experts.
