Large public interest entities with >500 employees subject to NFRD companies in scope of NFRD will have to comply first. They will have to report on FY2024 with a first report on 2025
All large companies exceeding two of the three following criteria (in line with Accounting Directives: 2013/34/EU):
- 250 employees during the financial year (average)
- net turnover of €40 million
- balance sheet total €20 million
These companies will have to report on FY2025 in 2026.
All listed companies on the EU regulated market (including listed SMEs, but no micro-enterprises) will have to report on FY2026 in 2027. Some exceptions can be made to extend for 1 year.
All non-EU companies generating a net turnover of more than €150 million and having a subsidiary in the EU that follow the criteria applicable to EU companies (i.e., being listed on the European market except micro or being within the large company threshold) or a branch in the EU generating more than €40 million net turnover in the region. These will have to report on FY2028 in 2029
Small and non-complex financial institutions as per the Regulation (EU) No 575/2013 Art 4(1), point (145) and captive insurance and reinsurance undertakings as per Directive 2009/138/EC (provided that they are large undertakings or listed SMEs except micro-enterprises as per the Accounting Directive)
Moreover, undertakings in the CSRD scope will also have to comply with Article 8 of the Taxonomy Regulation.