CSRD Stop the Clock Update: Eighteen Countries Have Adopted or Introduced Transposing Legislation

Ropes & Gray – in conjunction with leading law firms across Europe – has once again updated its monthly CSRD Transposition Tracker. The Tracker describes Corporate Sustainability Reporting Directive transposition and other Omnibus activity across the 27 EU member states and three EEA EFTA countries. This update includes information and developments as of July 31, and for some countries into August, as well as additional commentary from the participating law firms.

The Tracker is available here.

A big focus for many companies – which we cover in the Tracker – is the status of the “Stop the clock” Directive. Among other things, the “Stop the clock” Directive delays Wave 2 company reporting by two years. As of the Tracker's completion, eight countries have adopted legislation implementing the “Stop the clock” Directive: Cyprus, Estonia, France, Hungary, Ireland, Lithuania, Norway and Poland. Countries that at Tracker completion have introduced but not yet adopted “Stop the clock” legislation include Austria, Denmark, Finland, Germany, Italy, Latvia, Liechtenstein, Luxembourg, Slovenia and Sweden.

In other recent Omnibus simplification developments, EFRAG has published Exposure Drafts of amended European Sustainability Reporting Standards that would significantly scale back the ESRS. For Ropes & Gray’s recent post describing the ESRS 1 Exposure Draft, please see here. 

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