Drilling Down on Implementation of the EU "Stop the Clock" Directive

Ropes & Gray has once again updated its monthly Corporate Sustainability Reporting Directive (CSRD) Transposition Tracker. The Tracker is prepared in conjunction with leading law firms across Europe. The Tracker describes CSRD transposition and other Omnibus activity across the 27 EU member states and three EEA EFTA countries.

The Tracker is available here.

This update includes information and developments as of May 31, and for some countries well into June, as well as additional commentary from the participating law firms.

The last several weeks has seen building momentum to transpose the “stop the clock” directive, which pushes back compliance for many companies under the CSRD and the Corporate Sustainability Due Diligence Directive. The stop the clock directive is discussed in detail in this Ropes & Gray post. EU member states are required to transpose the “stop the clock” directive into law by year end.

How is transposition coming along? So far, three countries have adopted transposing legislation, up from only one at our last update. In addition to first mover France, these are Estonia and Lithuania. Eight others have either introduced legislation or held consultations. These include Denmark, Finland, Hungary, Latvia, Luxembourg, Poland, Sweden and Norway.

These and other developments are discussed in more detail in the Tracker.