From 2023 and onwards companies with more than 250 employees must provide insight into their impact on the environment and society. The European Union announced this with the amendment of the Non-financial Reporting Directive (NFRD) to the Corporate Sustainability Reporting Directive (CSRD).
Until now the obligations of the NFRD only applied to listed companies. The new measures are a substantial extension to the current reporting obligation. From now on, the data that companies provide must be checked by accountants. In addition, the annual report must provide insight into the objectives, strategy and progress the company is making in terms of the environment and society.
What does this mean for me as an SMB?
Although your company may not have 250 employees (yet) and 12 months might seem a long way off, it is important to realize that a sustainability strategy is not developed overnight. On average it takes around 6 months to a year to get there.
For many SMEs with growth ambitions, the new rules are already having an impact on their current operations.
Is your company approaching 250 employees? Does your company have growth ambitions? For every longer-term decision or investment you plan on making today, it should already be clear what the impact is on the environment and society. It’s time to align your strategy, systems and processes for better business. In this way, you as a company are completely ready for Better Business Results and the regulations of tomorrow. Where should you start? Start with 'The way to B' or contact our team.