Requirements , timeframes and next steps In addition to the NFRD reporting requirements , these companies will need to report on the following ; sustainability strategy and business model ; sustainability governance ; materiality assessment of sustainability-related impacts ; risks and opportunities ; implementation measures ; and performance metrics .
“ The management report is required in a single electronic reporting format ,” Knapp explains . “ It is expected that the Commission will require to digitally ‘ tag ’ the reported information , so it is machine readable and feeds into the European single access point envisaged in the Capital Markets Union Action Plan .
“ Therefore , introducing a consolidated , robust and effective reporting framework through the use of purpose-built software solutions will help to address many issues surrounding conflicting standards , gaps in reporting and lack of comparability of sustainability data .”
Regarding timeframes , the application of the CSRD will take place in five stages :
90 August 2023