The CSRD (Corporate Sustainability Reporting Directive) is the EU law that requires large companies to publish, in the annual report and with independent assurance, their impact on people and the environment, plus the sustainability risks that affect their business. It replaced the NFRD. Reporting follows the ESRS, with double materiality: the firm's impact on people and the planet, and climate, social or governance risks on the firm.
From February 2026, Directive (EU) 2026/470 (Omnibus I) keeps in scope EU companies with more than 1,000 employees and more than €450 million net turnover. Listed SMEs are out.
In Romania, Order no. 1,281/2026 (Official Gazette no. 858 of 13 October 2026) raises the threshold to more than RON 2.25 billion and an average of 1,000 employees, from financial years starting on 1 January 2027.
The CSRD sets who reports. The ESRS set what and how, in A new sustainability tool is being launched today in Romania. For example, Autonom, with fewer than 500 employees, already published three voluntary reports (Don't fall for the trick!). See also ESG and CSR.