Una introducción a la CSRD
To many, the Corporate Sustainability Reporting Directive will be a game changer in ESG reporting. But what is it, who will it affect, and when does it come into force? This introductory guide breaks it all down.

¿Qué es la CSRD?
The Corporate Sustainability Reporting Directive (CSRD), sets out environmental, social and governance (ESG) reporting requirements for companies and aims to significantly expand the scope of the NFRD, both in terms of who needs to report and what needs to be reported.
First proposed in April 2021, this new European Union (EU) legislation developed by the European Financial Reporting Advisory Group (EFRAG) will gradually be coming into play over the next few years. It expands upon, and will replace, the Non-Financial Reporting Directive (NFRD), which has been in force since 2018.

What are the new CSRD requirements?
The new CSRD requirements introduce mandatory corporate sustainability reporting standards and the integration of ESG information in management and annual reports. This means mandatory assurance audits and digital tagging of information by the financial reporting team.

What is the scope of the CSRD?
All large companies(1) and all companies listed on regulated markets (except micro-enterprises) must comply with CSRD reporting requirements.

When is the CSRD mandated by?
The Corporate Sustainability Reporting Directive officially entered into force on 5 January 2023. A gradual rollout with the first companies due to file will occur in Q1 2025 (applies to FY 2024).
Frequently Asked CSRD Questions
The CSRD will affect all EU-based companies who have:
- una facturación neta de 40 millones de euros o más;
- al menos 20 millones de euros en activos;
- más de 250 empleados.
- La legislación también concernirá a todas las empresas cotizadas (a excepción de las microempresas).
The CSRD, having a considerably larger reach than the NFRD, (up from 11,000 to around 50,000) also impacts non-EU companies who have with EU-based subsidiaries, or who have securities on EU-regulated markets, are also required to comply with the CSRD. This means, for example, that a UK or US-based multi-entity corporation with a single subsidiary in the EU will need to report in line with CSRD regulations, even if all their other subsidiaries are outside of the EU.
The European Sustainability Reporting Standards (ESRS) are standards being brought in by the CSRD to provide the specific requirements that companies will need to follow in their reporting practices.
En noviembre de 2022, el EFRAG publicó la primera serie de borradores de NERS, que abarcan 12 normas. Estos cubren:
- General: 1- General requirements, 2- General disclosures
- Medio ambiente: E1 - Cambio climático, E2 - Contaminación, E3 - Recursos hídricos y marinos, E4 - Biodiversidad y ecosistemas, E5 - Uso de recursos y economía circular
- Social: S1 - Own Workforce, S2- Workers in the value chain, S3 - Affected communities, S4 - Consumers and end users
- Governance: G1 - Business Conduct
While reporting in line with E2 - General disclosures and E1 - Climate change is required for all companies in scope of the CSRD, not all of these are mandatory for every company. EFRAG and the ESRS provide detailed information on who needs to follow which specific reporting standards.
The CSRD aims to establish a shared framework for reporting non-financial data. The idea is that by enforcing thorough, robust, standardized reports, everyone— from policymakers and investors to clients and consumers—can make informed decisions on a company’s ESG performance.
La UE cree desde hace tiempo que los inversores y los consumidores tienen derecho a comprender el impacto ESG de las empresas de forma clara y fácilmente comparable. Aunque las normativas existentes (como la NFRD) suponían un paso en esta dirección, el consenso apuntaba a que no eran suficientes.
Los inversores descubrieron que muchos informes ESG omitían información importante o útil, utilizaban parámetros distintos y tenían diferentes áreas de enfoque, lo que dificultaba el hecho de poder basarse en los datos o la comparación entre empresas. Tal y como concluyó la UE, esto puede activar una reacción en cadena para la inversión sostenible, una de sus áreas clave de atención.
Uno de los principales objetivos del CSRD es reunir los componentes «E», «S» y «G» de la presentación de informes ESG de una manera más cohesionada y coherente. Las empresas deberán divulgar información relacionada con:
- el medio ambiente
- el trato del personal y un enfoque de las cuestiones sociales
- los derechos humanos
- la lucha contra el soborno y la corrupción
- la diversidad en los consejos de administración
¿Cuándo entrará en vigor la CSRD?
The text of the CSRD was passed following a landslide vote in the European Parliament in November 2022 and officially entered into force in the EU in early January 2023. From this date, member states have 18 months to transpose the new standards into national law.
Each member state has its own history of regulations regarding environmental, social, and governance (ESG) reporting and is likely to implement the new requirements in its own way.
The CSRD will then be phased in from:
- FY’24: For all organizations that are already within the existing scope of the NFRD (currently around 11,700 organizations)
- FY’25: All “large” organizations—firms with a net turnover of €40 million or more, at least €20 million in assets, and 250+ employees
- Later: All listed companies, including listed small and medium-sized enterprises (SMEs) but with the exception of micro-enterprises
¿Qué implicarán los requisitos de presentación de información?
Estas son algunas de las características destacadas de la normativa:
- Double materiality: Organizations will need to disclose the company’s impact on social and environmental issues, known as double materiality, and how these issues will likely affect the business in the future.
- Looking both ahead and back: Companies will be required to furnish both retrospective and forward-looking analyses. This will mean sharing quantitative information (such as measured impact to date) and qualitative information (such as targets, strategy, and risk assessment).
- Stricter rules around climate-related disclosures: Most notably, the CSRD will call for disclosure of Scope 3 emissions. These are the indirect CO2 emissions produced by all other companies connected to the organization throughout the entire supply chain.
- Enforced audits: For the first time, all corporate sustainability reporting information must pass through an audit process to verify accuracy before publication.
¿Cómo se presentarán los informes CSRD?
Companies will be expected to provide all CSRD-related information in either their annual or management reports. This is to ensure that financial and ESG information is published at the same time and considered as a whole, rather than two separate entities.
In line with ESEF regulations, all sustainability information will need to be provided in xHTML format for standardization and easier verification.
¿Cómo encaja la CSRD con otras legislaciones?
With so many different mandates and legislations, it can be challenging to grasp how they all fit in with one another. As mentioned previously, the CSRD and ESRS will expand upon and replace the Non-Financial Reporting Directive (NFRD).
No obstante, el mandato también incorporará la normativa comunitaria vigente, sobre todo:
- The Sustainable Finance Disclosure Regulation (SFDR), which sets out ESG disclosure obligations for financial market participants
- la Taxonomía de la UE, que es un sistema de clasificación de actividades económicas medioambientalmente sostenibles.
The CSRD, the SFDR, and the EU Taxonomy all work together to help promote sustainable investments. By bringing them together in a single bundle, the aim is to align requirements, help reduce complexity, and avoid the risk of duplicating reporting requirements.
¿Cuáles son los retos de la divulgación conforme a la CSRD?
Because the CSRD requirements are far more detailed than those of the NFRD, companies will need to gather vast amounts of ESG data, which all need to be accurate and verifiable. Scope 3 emissions—which extend beyond a company’s direct CO2 output and look at everything from up and downstream transportation and distribution, to the use of sold products—are particularly difficult to track.
Por tanto, las empresas que ya informan conformidad con la NFRD tendrán que aprender bastantes cosas, mientras que las que tienen que preparar su primer informe ESG de conformidad con la CSRD se enfrentan a un desafío aún mayor.
Importantly, the CSRD is being incorporated into national law throughout the EU. Depending on how stringent individual countries choose to be regarding enforcement, non-compliance could lead to penalties or prosecution, potentially posing a serious business risk for organizations.

Resumen ejecutivo: Una instantánea de los CSRD
This guide distills key information about the mandate and how it will impact your organization.
What else should I know?
The CSRD will be granting individual Member States the opportunity to open the market to ‘independent assurance services providers’. Countries that choose to take this option would allow assurance firms as well as auditors to verify the corporate sustainability reporting information provided.
In the future, smaller organizations will also need to report in accordance with the CSRD. Modified regulations tailored for SMEs will be published, and those listed on a regulated market will need to start reporting from 2028.
Our recommendations
Todos a cubierta
The CSRD is a substantial step up from previous ESG reporting standards. To meet these high CSRD standards, your company will need full engagement from all stakeholders, particularly C-level executives and the board of directors. More than putting together a report, the CSRD requires a clear vision and goal setting.
Prepárese ahora
Now that we know exactly what the CSRD entails, it's time to make the necessary decisions to ensure that your organization complies with the mandate.
Manténgase ágil
As the reporting landscape develops, it’s important to assess the processes and tools that underpin daily operations throughout the organization. Do you have access to all the data your organization may need to report on? How is it being gathered? Is it secure, verifiable, and connected? Having these building blocks in place (with the help of the right technology and processes) will prepare you for any upcoming CSRD reporting requirements.

More ESG and CSRD Resources
Our ESG solution has all CSRD reporting requirements built into the platform, which we continually optimize to enable its seamless integration within the reporting process. To help you stay ahead of evolving policies and legislation, our platform connects data across your entire organization and existing systems, all while maintaining control and mitigating risk.
Directiva CSRD: derribar las barreras entre los criterios ESG y las finanzas
Informes ESG 101: Lo que necesita saber
Análisis de la CSRD: quién se ve afectado y cómo prepararse
Sepa cómo Workiva puede ayudarle en su viaje hacia la sostenibilidad
Para ayudarle a adelantarse a la evolución de la legislación, nuestra plataforma conecta los datos de toda su organización y los sistemas existentes, todo ello manteniendo el control y mitigando el riesgo. Al permitirle confiar en sus datos e informar de forma transparente y verificable, Workiva le permite ir más allá del cumplimiento y centrarse en comunicar -y alcanzar- los objetivos de su empresa.
Software ESG
Nuestra solución ESG lleva incorporados en la plataforma todos los requisitos de información del CSRD, que optimizamos continuamente para permitir su perfecta integración en el proceso de información.
Vídeo de demostración de ESG
Workiva se distingue de otras herramientas de elaboración de informes ESG por fomentar la colaboración entre varios equipos e integrar los datos de forma inteligente para garantizar la transparencia a lo largo de todo el proceso de elaboración de informes.