European Sustainability Reporting Standards (ESRS)
At the end of July 2023, the European Commission published the final report complementing the European Directive 2013/34/EU relating to corporate sustainability reporting. This is an obligation for large companies and listed SMEs as well as parent companies of large groups. These entities are required to include in their management reports the information necessary to understand the company’s impact on sustainability matters and the information necessary to understand how sustainability matters affect the company’s development, performance and position.
This obligation shall be recorded in all Member States and shall apply from 1 January 2024 for accounting periods beginning on or after 1 January 2024.
More information can be obtained e.g. on the website of the Confederation of Industry and Transport of the Czech Republic or on the website of the Chamber of Auditors of the Czech Republic.
Author: Petra Čechová