Review article
https://doi.org/10.31141/zrpfs.2024.61.154.557
Corporate Sustainability Reporting – Challenges and Opportunities for Small and Medium-Sized Enterprises
Antonija Zubović
orcid.org/0000-0001-8238-3495
; University of Rijeka, Faculty of Law
Abstract
This paper deals with the provisions of the Corporate Sustainability Reporting Directive (CSRD),
which came into force on 5 January 2023 and must be transposed into national law by the Member
States by 6 July 2024 with particular focus on the position of small and medium-sized enterprises.
A significant change introduced by the CSRD Directive is the extension of the reporting obligation
to small and medium-sized enterprises which were not previously subject to this obligation. They
are obliged to publish the first reports in 2027 for the 2026 financial year. The scope of the CSRD
Directive extends directly to those small and medium-sized enterprises whose transferable securities
are admitted to trading on the regulated market of any EU Member State. However, the Directive
will also apply indirectly to small and medium-sized enterprises the securities of which are not listed
on a regulated market, but which are in the value chain of undertakings that fall within the scope of
the Directive. This paper outlines the challenges that small and medium-sized enterprises will face
in applying the new legal framework and the opportunities that the publication of sustainability
information will bring for them.
Keywords
corporate sustainability reporting; small and medium-sized enterprises (SMEs); green and digital transition; CSRD Directive; sustainability report
Hrčak ID:
324483
URI
Publication date:
20.12.2024.
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