To talk about sustainability reporting by companies, starting from what has already been indicated here is necessary. It is important to note that Directive (EU) 2022/2464 is subject to transposition by the Member States. This will bring into force the laws, regulations and administrative provisions necessary to comply with Articles 1 to 3 of the Directive by 6 July 2024. These States must communicate immediately to the Commission the text they finally consider for these provisions.
Concerning the practice, it is essential to note that it is laid down as follows:
For financial years beginning on or after 1 January 2024, it shall apply to large undertakings, which are public-interest entities, and which exceed, at the balance sheet date, the average number of 500 employees during the financial year; it shall also apply to public-interest entities which are parent companies of a large group and which exceed, at the balance sheet date, on a consolidated basis, the average number of 500 employees during the financial year.
For financial years starting on or after 1 January 2025, it shall apply to large undertakings and parent companies of a large group.
For financial years starting on or after 1 January 2026, it shall apply to small and medium-sized public-interest entities that are not micro-enterprises as defined in the Directive. In addition, it will also apply to small and non-complex entities and captive insurance undertakings as defined in the Directive.
It can be concluded that Directive (EU) 2022/2464, having already entered into force, will apply from 1 January 2024 for financial years starting or after 1 January 2024.
