The EU Corporate Sustainability Reporting Directive (CSRD) entered into force in January 2023 and paves the way for a realignment of European sustainability reporting. Mandated by the Commission, the European Financial Reporting Advisory Group (EFRAG) has developed new uniform and mandatory European Sustainability Reporting Standards (ESRS), which are to be adopted into EU law by a delegated act of the Commission in June 2023. From then on, the ESRS should serve as a new framework for companies to report on their performance in terms of environmental, social and governance issues.


This new AK EUROPA policy brief offers an overview on challenges of the new ESRS and suggests points to be taken into account during the upcoming implementation of the reporting standards in European legislation or the development of further standards. It is crucial that the standards of the CSRD are not reduced or watered down in the legislative process. In the current version, numerous terms are not clearly defined and can therefore be interpreted in different ways. Regarding the further development of the standards, trade unions, employee representatives, civil society and other relevant stakeholders must be included in the consultation process.

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Alice Niklas

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Bernhard Leubolt

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Alice Wagner (Brussels office)

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