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Navigating the Recent Changes in CSRD Rules by the EU Commission

By October 18, 2023No Comments
CSRD Planning EU Commission


The European Commission’s recent announcement to postpone specific aspects of the Corporate Sustainability Reporting Directive (CSRD) has stirred conversations among various stakeholders. This delay is not universal; it specifically applies to sector-specific sustainability disclosures and sustainability reporting for companies outside the EU. In this blog post, we’ll explore the details of this decision and its implications, particularly for users of CFOUR Comply, our award-winning software solution for ESEF and CSRD reporting.

Context of the Announcement

The European Commission disclosed these plans as part of its 2024 Commission Work Programme. This program outlines the Commission’s planned actions for the upcoming year, including key actions like the postponement of the deadline for the adoption of the European Sustainability Reporting Standards (ESRS) for certain sectors and for certain third-country undertakings.1.

Details of the Delay

Originally, the ESRS were slated to define sector-specific sustainability reporting requirements by the end of June 2024. However, the Commission now intends to push this deadline back by two years, affecting only particular sectors and non-EU companies21.

Reasons for the Delay

The Commission aims to alleviate the reporting burden associated with these requirements. The delay will enable companies to concentrate on the first set of ESRS, which were adopted in July 2023 and are sector-agnostic12. This will also provide the European Financial Reporting Advisory Group (EFRAG) additional time to develop efficient sector-specific ESRS31.

EFRAG’s Role

The European Financial Reporting Advisory Group (EFRAG) plays a crucial role in the development of ESRS. The additional time will allow EFRAG to consult with industry experts, conduct impact assessments, and ensure that the new sector-specific ESRS are both effective and efficient.


Implications for Companies

For Targeted EU Companies

Companies in the affected sectors will have more time to adapt to the new reporting standards, allowing them to focus on the first set of ESRS21. This is particularly beneficial for SMEs, that have to report sustainability disclosures for the first time.

For Specific Non-EU Companies

The delay also has implications for large non-EU companies operating in the EU. These companies will now have more time to prepare for the new reporting requirements, which will be applicable from the financial year 20281.

Broader Sustainability Goals

The Commission’s 2024 Work Programme also outlines several sustainability and climate-related actions, including initiatives related to the EU Green Deal1. These actions aim to address various aspects of sustainability, from carbon management to water resilience.

What This Means for CFOUR Comply Users

For CFOUR Comply users impacted by this delay, you’ll have an extended window to adapt to the new reporting standards. We are committed to updating CFOUR Comply to align with these new timelines. Our software is designed to be agile and adaptable, ensuring that you can meet your reporting requirements, no matter how they may change.


While the delay in the adoption of sector-specific ESRS offers some relief to companies in certain sectors and third-country undertakings, it’s crucial for all companies to continue their sustainability reporting efforts. CFOUR Comply will continue to provide a user-friendly and efficient solution for your ESEF and CSRD reporting needs.


For more information on how CFOUR Comply can assist you in your reporting journey, feel free to contact us.

This blog post is intended for informational purposes only and should not be considered as legal or financial advice.