Corporate Sustainability Reporting Directive (CSRD)

>1,000 employees AND ≥€450m net turnover

Wave 1

Large undertakings/groups per Codice Civile size criteria (as amended)

PIEs

Amended CSRD scope: EUR 450 million net turnover and an average of more than 1,000 employees; the transition and third-country routes remain subject to the amended Accounting Directive framework.

Remaining waves deferred to FY2027 (reports 2028) by Stop-the-Clock

12-month Omnibus transposition window (to ~Mar 2027)

Wave 1 reported FY2024

Stop-the-Clock/Omnibus alignmentCloseDictionary termAlignmentThe deliberate process of making strategies, requirements, incentives, data or actions consistent enough to support a shared objective without necessarily making them identical.Read the full definition → pending (deadline ~Mar 2027)

GOV-1 role of administrative, management and supervisory bodies (AMSBs)

GOV-2 information flows to AMSBs

GOV-3 sustainabilityCloseDictionary termSustainabilityThe capacity to maintain valued social, ecological and economic functions over time without depleting the foundations on which they depend or shifting unacceptable costs to others.Read the full definition → performance in incentive schemes

GOV-4 statement on due diligenceCloseDictionary termDue DiligenceAn ongoing, risk-based process through which an organisation identifies, prevents, mitigates, tracks and communicates how it addresses adverse impacts, and supports remediation where appropriate.Read the full definition →

GOV-5 risk management & internal controls over sustainability reportingCloseDictionary termSustainability reportingreporting per ESRS in a dedicated section of the management report (Art. 19a/29a)Read the full definition →

SBM-1 strategy, business model and value chainCloseDictionary termValue ChainThe full sequence of activities that create and deliver value — the analytical unit for footprints, due diligence and accountability.Read the full definition →

SBM-2 interests and views of stakeholdersCloseDictionary termStakeholdersPeople or groups who can affect, be affected by, or have legitimate interests in an organisation's decisions, activities and impacts.Read the full definition →

SBM-3 material IROs and interaction with strategy/business model (incl. anticipated financial effectsCloseDictionary termAnticipated financial effectsAnticipated financial effects are expected changes to financial position, performance or cash flows arising from sustainability-related risks and opportunities.Read the full definition →)

IRO-1 process to identify/assess material IROs

IRO-2 disclosure requirements covered / content index

GHG intensity (tCO2e/net revenue)

energy intensityCloseDictionary termEnergy intensityEnergy intensity is energy use expressed per unit of output, revenue, product, floor area or another activity measure.Read the full definition → per net revenue in high-impact sectors

Gross Scope 1 / Scope 2 (market- and location-based) / Scope 3 / total GHG emissions

Gender pay gapCloseDictionary termGender pay gapThe gender pay gap is the difference in average pay between women and men or between gender groups within a workforce or defined population.Read the full definition →

CEO-to-median pay ratio (S1)

work-life balance, health & safety rates

Statutory auditor or independent assuranceCloseDictionary termAssuranceAn independent engagement designed to increase intended users' confidence in defined sustainability information by evaluating it against suitable criteria and reporting a conclusion.Read the full definition → services provider (IASP)

assuranceCloseDictionary termAssuranceAn independent engagement designed to increase intended users' confidence in defined sustainability information by evaluating it against suitable criteria and reporting a conclusion.Read the full definition → statement in the management report

Revisore legale (statutory auditor) provides assuranceCloseDictionary termAssuranceAn independent engagement designed to increase intended users' confidence in defined sustainability information by evaluating it against suitable criteria and reporting a conclusion.Read the full definition →

limited assuranceCloseDictionary termLimited assuranceLimited assurance is an assurance engagement that provides a lower level of confidence than reasonable assurance, usually expressed in a negative form of conclusion.Read the full definition → from the start

Sustainability reportingCloseDictionary termSustainability reportingreporting per ESRS in a dedicated section of the management report (Art. 19a/29a)Read the full definition → is subject to limited assuranceCloseDictionary termLimited assuranceLimited assurance is an assurance engagement that provides a lower level of confidence than reasonable assurance, usually expressed in a negative form of conclusion.Read the full definition →. The 2026 amendment removed the former reasonable-assuranceCloseDictionary termReasonable assuranceReasonable assurance is an assurance engagement intended to provide a high, though not absolute, level of confidence over the subject matter assessed.Read the full definition → empowerment; Member State implementation remains relevant to practitioner eligibility and supervision.

Audit committeeCloseDictionary termAudit committeeA committee of the board of directors responsible for overseeing financial reporting, external and internal audit, internal controls and — increasingly — sustainability-related disclosure and risk.Read the full definition → / sustainability-statementCloseDictionary termSustainability statementA sustainability statement is a structured part of corporate reporting that presents material sustainability information, often within or alongside annual management reporting.Read the full definition → governance

electronic tagging (XHTML + XBRL taxonomy per ESRS Set 1)

CONSOB supervision and sanctioning for listed issuers