What is the structure of fines if companies fail to report?

Firstly, organisations have a maximum of 12 months after the balance sheet date, to submit the duly approved annual sustainability statements in the required electronic reporting format.

We are still waiting for final clarification of the process for evaluation and punitive measures. At the moment, if an organisation is guilty of being non-compliant with the CSRD it can expect administrative sanctions and three possible penalties: a public denunciation; an order to change conduct; and financial punishment of periodic penalty payments of up to EUR 50k amounting up to EUR 10 million or 5% of their annual revenue.

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Get monthly newsletter with impact stories from around the World and news from SUSTAINOVA.

What is the structure of fines if companies fail to report?

Firstly, organisations have a maximum of 12 months after the balance sheet date, to submit the duly approved annual sustainability statements in the required electronic reporting format.

We are still waiting for final clarification of the process for evaluation and punitive measures. At the moment, if an organisation is guilty of being non-compliant with the CSRD it can expect administrative sanctions and three possible penalties: a public denunciation; an order to change conduct; and financial punishment of periodic penalty payments of up to EUR 50k amounting up to EUR 10 million or 5% of their annual revenue.

Subscribe to the Voice of Sustainability

Get monthly newsletter with impact stories from around the World and news from SUSTAINOVA.