Current laws and regulations regarding CSR reporting primarily apply to large companies. With the introduction of the EU Sustainability Reporting Directive (CSRD), more companies will be required to report from 2023 onwards. The development of internationally harmonized reporting standards is already under discussion. Although small and medium-sized enterprises are not directly affected so far, it can be assumed that large companies will increasingly demand CSR information from their suppliers in the future.

The background...

The reporting requirement is intended to support and promote more sustainable and responsible business practices by the companies concerned. Having to disclose the environmental and social impacts of their business activities – whether to customers, suppliers, policymakers, the capital market, or other stakeholders – is meant to serve as a lever for more sustainable development within these companies.