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New Sustainability Reporting Directives

In 2023, a new sustainability reporting directive came into effect within the EU: the Corporate Sustainability Reporting Directive (CSRD).

The new directive means that:

  • more companies will need to report on sustainability
  • sustainability reports will become more comparable
  • a Double Materiality Assessment must be conducted where the impacts, dependencies, risks, and opportunities related to environmental, social, and governance issues must be assessed.

Among the environmental issues is to identify and evaluate the impact, dependencies, risks, and opportunities related to biodiversity and ecosystems.

The directive will be applied for the first time during the financial year 2024. This means that the companies covered by it will need to report according to the directive in the sustainability report published in 2025. The government has proposed regulations required to implement the directive into Swedish legislation. The legislative changes are proposed to come into force on July 1, 2024.

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