On 5 July 2024, Deputy Peter Burke, Minister for Enterprise, Trade, and Employment, signed the European Union (Corporate Sustainability Reporting) Regulations 2024 into law.
This Statutory Instrument (SI 336/2024) came into effect on 6 July 2024, meeting the CSRD's transposition deadline.
On 24 May 2024, the Council of the European Union (EU) finalised the adoption of the Directive on corporate sustainability due diligence, which the European Commission initially proposed on 23 February 2022.
The Directive mandates that companies identify and mitigate adverse human rights and environmental impacts within their operations and global value chains.
It applies to EU and non-EU companies, including parent companies with a turnover exceeding EUR 450 million.