Czech Republic: Law incorporating corporate sustainability reporting directive (CSRD) enacted
Mandates companies to prepare a sustainability report
Mandates companies to prepare a sustainability report
The president in November 2023 signed the “consolidation package” that incorporates the European Corporate Sustainability Reporting Directive (CSRD) into Czech law.
The directive mandates companies to prepare a sustainability report, a requirement that will be introduced in stages. The first stage, starting in 2025, will require large companies with over 500 employees and public interest entities (PIE) to comply.
The sustainability report is designed to offer transparency about a company's environmental impact and how sustainability influences its growth, performance, and financial position. The goal of the CSRD is to drive changes in business behavior by demanding a higher level of disclosure.
Read a December 2023 report prepared by the KPMG member firm in the Czech Republic
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