The EU’s Corporate Sustainability Reporting Directive (“CSRD”) introduced a new mandatory sustainability reporting regime that will apply to many Irish companies.
EU member states were required to transpose the CSRD into national law by 6 July 2024. The Irish European Union (Corporate Sustainability Reporting) Regulations 2024 were published on 9 July, with effect from 6 July. The Department of Enterprise, Trade and Employment issued this press release prior to publication of the new regulations, which can now be accessed here.
These extensive new regulations include provisions regarding:
- the scope of application of the CSRD to Irish companies;
- the new employee consultation requirements for Irish companies; and
- how Irish companies can avail of exemptions from reporting under the CSRD.
We are preparing a detailed update regarding the regulations and this will be available shortly.
In the meantime, if you have any questions on the CSRD or the new Irish regulations, please get in touch with Susanne McMenamin, Susan Carroll Chrysostomou, Michael Sinnott or your usual Matheson contact.