What UK Companies Need to Know About CSRD
UK companies may be affected by the CSRD in the following scenarios:
Listed Securities: Companies with securities listed on an EU regulated market must comply with CSRD reporting obligations, regardless of their location.
EU Net Turnover: Companies with an EU net turnover exceeding €150 million over the past two consecutive years are subject to the CSRD if they have:
An EU subsidiary that is a large undertaking or has listed securities, or
An EU branch generating over €40 million in turnover in the previous financial year.
UK companies should assess their circumstances to determine CSRD applicability. Compliance involves adhering to expanded reporting requirements under the directive.
Broader Implications of CSRD
Even if outside the CSRD’s scope, UK companies should recognise its global influence as a model for sustainability reporting. With increasing emphasis on ESG, the UK government stresses the need for robust ESG strategies. Additionally, the Financial Conduct Authority’s (FCA) UK Sustainable Disclosure Regulation (SDR) requires issuers and investment managers to provide comprehensive sustainability information.
As sustainability regulations are likely to become more stringent, UK companies should proactively adapt to these changes to meet future obligations effectively.
How Hub360 Helps
Hub360 simplifies compliance with CSRD and other sustainability regulations by providing real-time oversight and comprehensive documentation of all deliveries and material movements. Its automated data collection and reporting tools make it easier for companies to gather and verify information, ensuring transparency and accountability. By integrating seamlessly with existing systems, Hub360 enables companies to efficiently manage resources, reduce carbon footprints, and demonstrate adherence to sustainable practices during audits, making compliance straightforward and manageable.