Non-EU Groups standard setting

​Per article 40a of the CSRD, non-EU companies that generate over EUR 150 million per year in the EU and that have in the EU either a  branch with a turnover exceeding EUR 40 million or a subsidiary that is a large company or a listed SME will have to report on the sustainability impacts at the group level of that non-EU company as from financial year 2028, with first sustainability statement published in 2029. The CSRD foresees the adoption of separate standards for this purpose.

The deadline for the adoption of these standards as a delegated act has been extended to June 2026 and EFRAG should deliver its advice to the EC by November 2025 at the latest.

The consultation on an Exposure Draft is intended for Q1 2025. 

For questions as to whether sustainability statement in accordance with article 40 of the Accounting Directive has to be produced or other questions related to CSRD/Accounting directive, please refer to the European Commission's FAQ's on the topic.