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Corporate Sustainability Reporting Directive (CSRD) – What are the objectives?

January 16, 2023

News from the AGN EMEA Accounting, Auditing & Education Committee (AAEC)

The CSRD was finally adopted on December 14, 2022. European member states now have 18 months to transpose the directive into national law. Since it contains almost no member state options, the CSRD will be reflected almost 1:1 in the national laws of the member states.

The CSRD is expected to make a significant contribution to the implementation of the ambitious EU Green Deal project to create a fully sustainable economic and financial system within the EU.

The EU Commission defined the following objectives in 2018:

  • Redirecting capital flows to sustainable investments.
  • Addressing financial risks arising from climate change, resource scarcity, environmental degradation and social problems.
  • Promoting transparency and long-termism in financial and economic activity.

The central objective of the CSRD: (companies should disclose relevant, comparable and reliable sustainability information)

  • In the future, sustainability information should have the same status as financial information in external corporate reporting.
  • Stakeholders have a greater need for sustainability information.
  • Digital technologies are used to improve the provision and use of sustainability information.
  • The reporting obligations are harmonized with the EU Environmental Taxonomy Regulation.

Sustainability reporting is not only marketing anymore but accounting law.


Should you ever lose track of the big picture, my colleagues and I from the AGN EMEA Accounting, Auditing & Education Committee (AAEC) will be happy to help and guide you safely through the IFRS and CSR jungle. As a member of AGN International, you can use the AGN AAEC Helpline at any time or contact me by email at carsten.ernst@wirtschaftstreuhand.de or by mobile phone at +49 173 8710322.


Carsten Ernst
Managing Partner
Wirtschafts Treuhand Group
Stuttgart, Germany
– Expert in financial (IFRS) and sustainability (ESRS and GRI) reporting

– Audit of financial and sustainability reports in accordance with ISAs

– Member of the following AGN bodies:
– EMEA Board of Directors (Chairman)
– EMEA AAEC Accounting, Auditing and Education Committee (Member)

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