Term · ESG & Sustainability
CSRD
In briefThe CSRD expands and harmonizes EU sustainability reporting; its scope and deadlines were adjusted and pushed back in 2025 and 2026. Small-caps may be directly or indirectly covered depending on size, listing, and group structure.
Definition
The Corporate Sustainability Reporting Directive expands and harmonizes the sustainability reporting of certain companies in the EU. Its scope and timeline were amended or postponed in 2025 and 2026 respectively.
How it is calculated
Formula. No metric. Check scope, size criteria, stock exchange listing, and the respective national implementation as of the current reference date.
Why it matters for small caps
Depending on size, listing, and group structure, small-caps can become directly or indirectly subject to CSRD reporting obligations and supply chain requirements.
Common misreadings
- Outdated timelines are frequently perpetuated. Not every listed small-cap is subject to reporting at the same time or to the same extent.
In the process
Frequently asked
What is the CSRD?
It is an EU directive on expanded sustainability reporting. It is intended to harmonize ESG disclosures and make them more comparable.
Who is affected by the CSRD?
This depends on size criteria, stock exchange listing, and national implementation as of the respective reference date. Smaller firms can also be indirectly affected via the supply chain.
Why is the current timeline important?
Outdated deadlines are frequently perpetuated uncritically. Not every small-cap is subject to reporting at the same time or to the same extent.
Related terms
Sources
Primary
Europäische Kommission – Corporate Sustainability Reporting
https://finance.ec.europa.eu/financial-markets/company-reporting-and-auditing/company-reporting/corporate-sustainability-reporting\_en
https://finance.ec.europa.eu/financial-markets/company-reporting-and-auditing/company-reporting/corporate-sustainability-reporting\_en
Methodology
Europäische Kommission – CSRD implementing and delegated acts
https://finance.ec.europa.eu/regulation-and-supervision/financial-services-legislation/implementing-and-delegated-acts/corporate-sustainability-reporting-directive\_en
https://finance.ec.europa.eu/regulation-and-supervision/financial-services-legislation/implementing-and-delegated-acts/corporate-sustainability-reporting-directive\_en
Education only, not investment advice. Ranges and thresholds are didactic orientation values, not an official standard.