Transposition of the EU Corporate Sustainability Reporting Directive (CSRD)

The Corporate Sustainability Reporting Directive (CSRD) is a new European Union (EU) directive that requires small, medium and large companies operating in Europe to disclose their environmental, social and governance (ESG) impacts on society as part of an annual non-financial reporting duty. The directive is part of the larger European Green Deal, which is a set of policies that aim to make the EU climate neutral by 2050.

The CSRD took effect on January 5, 2023 and required in-scope entities to transpose the directive into their national legislation by July 6, 2024. To date, 17 jurisdictions have transposed the CSRD in full, two have partially transposed the CSRD, and eight have introduced legislation. However, three jurisdictions have missed the transposition deadline and have yet to release specific details around proposed legislation.

Interactive Map

The interactive map below outlines the transposition of the CSRD across EU member states, as well as European Economic Area and European Free Trade Association states. Roll your cursor over the map to find out where each country currently stands with CRSD.

Map Key:

• Transposed: The state has transposed the CSRD.
• Partially transposed: The state has partially transposed the CSRD, with further transposition required.
• Not transposed: The state has not transposed the CSRD.

CSRD: The Story So Far

The CSRD was adopted by the European Commission in November 2022 and took effect on January 5, 2023. The directive required applicable member states to transpose Articles 1-3 of the directive into their national legislation by July 6, 2024. 

The CSRD replaces the Non-Financial Reporting Directive (NFRD), which was enacted in 2016. The NFRD required large companies to disclose non-financial information in their annual reports and to report on how they manage ESG issues.

Who Needs to Comply with CSRD?

The CSRD expands the NFRD’s scope and applies to large undertakings which on their balance sheet dates exceed the limits of at least two of the three following criteria: 

• Balance sheet total: €25m
• Net turnover: €50m
• Average number of employees during the financial year: 250 or greater

Large undertakings will have to comply with the CSRD beginning from 2026. Large undertakings will need to produce a sustainability report in 2026 covering the 2025 financial year.

The CSRD also covers listed small- and medium-sized enterprises (SMEs) trading in EU markets. SMEs meeting at least two of the following criteria are in scope:

• Balance sheet total: €25m
• Net turnover: €50m
• Average number of employees during the financial year: Up to 250

SMEs will have to comply with the CSRD beginning from 2027. SMEs will need to produce a sustainability report in 2027 covering the 2026 financial year. However, listed SMEs may be able to opt out until 2028. In such cases, the undertaking must briefly state in its management report why the sustainability reporting was not provided, according to the CSRD.

Transposition Status of CSRD

The CSRD requires companies to follow the EU’s new sustainability reporting standards (ESRS) when disclosing information about their environmental and social risks and impacts. The standards “cover the full range of environmental, social, and governance issues, including climate change, biodiversity and human rights. They provide information for investors to understand the sustainability impact of the companies in which they invest.”

As of January 2025, 17 jurisdictions have transposed the CSRD in full, while Czechia and Hungary have partially transposed the CSRD. Eight jurisdictions have introduced legislation to transpose the CSRD. Three EU member states — Austria, Malta and Portugal — have yet to release specific details around proposed legislation to transpose the CSRD. 

In addition, non-EU member states, including Liechtenstein and Norway, have transposed the CSRD, while Switzerland has initiated a consultation to transpose the CSRD. Lastly, Iceland has yet to introduce legislation to transpose the CSRD. These countries are members of the European Economic Area (EEA) and are thus required to transpose the CSRD into national law.

This blog gives you a small glimpse of Vixio’s CSRD coverage, which tracks transposition developments across the EU and EEA, as well as analyses key jurisdictions that have significantly expanded beyond the minimum scope of the directive. 

Want to know more?

Download your copy of our handy Corporate Sustainability Readiness Guide which helps in-scope organisations prepare for the initial and ongoing reporting requirements prescribed by the directive.

Or book a Demo with a member of the Vixio team who will be able to show you how Vixio can help your business stay ahead of CSRD regulations, and more.