Postponement of sector-specific ESRS and for third-country companies

The Corporate Sustainability Reporting Directive (CSRD) provides for the adoption of delegated acts on sector-specific ESRS and ESRS for third-country companies by the EU Commission by 30 June 2024. The EU Parliament and Council have now reached a provisional agreement on a two-year postponement of this deadline to 30 June 2026. This is intended to give reporting companies the opportunity to initially focus on implementing the sector-agnostic ESRS.

Nevertheless, the provisional agreement provides for eight sector-specific ESRS to be published immediately after their completion and therefore before 30 June 2026. The date of the first-time application of third-country companies for the 2028 financial year also remains unaffected by the envisaged postponement of the publication of the corresponding standards.

The provisional agreement between the EU Parliament and the Council needs now be endorsed and formally adopted by both institutions.

The press release of the European Council can be found here.