Application of the ESRS by German Companies - Implementation Status and Challenges

The introduction of the EU Corporate Sustainability Reporting Directive (CSRD) entails both challenges and opportunities, as it progressively expands the scope of companies subject to reporting obligations and substantially broadens the range of non-financial information to be disclosed. This article presents the state of implementation of the directive based on representative survey data from the German Business Panel (GBP) among companies in Germany. A particular focus is placed on the newly introduced European Sustainability Reporting Standards (ESRS), especially the varying relevance of their individual topical standards. The article provides insights into the costs associated with implementation as well as the potential benefits companies attribute to the new directive, and it illustrates why some firms voluntarily engage in sustainability reporting practices.

Betriebs-Berater, 79(23)