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Glossary:Corporate sustainability reporting directive
In spring 2021, the European Commission presented its proposal for the Corporate Sustainability Reporting Directive. The CSRD is a reviewed and revised version of the Non-Financial Reporting Directive (NFRD) and promotes the disclosure of sustainability related parameters in companies ’reporting practice. One of its main building blocks: double materiality. This involves that companies report on the effect of climate change on their companies on the one hand, while reporting on the impact of the company’s activities on environmental and social aspects.[1]