Poland is preparing to implement the EU’s Corporate Sustainability Reporting Directive (CSRD). The amendment to the Accounting Act, which implements the directive, introduces significant changes in ESG (Environmental, Social, Governance) reporting. It aims to increase transparency and availability of data on the environmental and social impact of companies’ activities..
Who will the new regulations cover?
The expanded reporting obligations will apply to:
- All large units;
- parent companies of large capital groups;
- small and medium-sized entities listed on regulated markets in the EU (excluding microenterprises);
- subsidiaries and branches whose non-EU parent generates revenues in excess of €150 million in the EU.
What does the amendment change?
New sustainability reporting standards
Entities will be required to provide detailed information on:
- business model and strategy that takes into account sustainability aspects;
- greenhouse gas emission reduction targets (for 2030 and 2050);
- ESG-related risk and opportunity management;
- The impact of operations on the environment, society and governance.
Simplified reporting
Small and medium-sized enterprises and some financial institutions will be able to benefit from simplified reporting.
Implementation schedule
Mandatory ESG reporting will be phased in gradually:
- From 2024 for the largest units;
- From 2025 for large companies and groups;
- From 2026 for small and medium-sized listed entities;
- From 2027 for other obligated entities.
What do the changes mean for companies?
The new regulations will affect a significant group of companies – more than 4,500 entities in Poland. This means that:
- Train the teams responsible for reporting;
- Introduce internal procedures for monitoring ESG indicators;
- Cooperation with auditors and sustainability experts.
The CSRD is part of a global trend of increasing transparency in sustainability. ESG reports are intended to help companies build an image as responsible companies, as well as facilitate access to external financing.
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