The German Sustainability Code is designed to be compatible with reporting obligations. As such, reporting obligations such as the CSR Directive Implementation Act, the German National Action Plan for Business and Human Rights and the EU Taxonomy were added as reporting options to the Code. We also plan to integrate future EU directives such as the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD) into the Code.
Adapting the Code to new reporting requirements
We adapt the Code to meet the requirements of the Corporate Sustainability Reporting Directive (CSRD), including the European Sustainability Reporting Standards (ESRS). Our aim is for all companies to be able to continue using the Code – regardless of whether they are obligated to report or do so voluntarily. In future, companies of all sizes and legal structures should also be able to use the Code to report on their sustainability efforts. We plan to carry out this adaptation over the course of 2023 and 2024. As usual, all drafts for new Code content will be discussed with the public as part of a stakeholder dialogue event.
Moving forward, the Code will retain its modular structure. Core information, likely based on an ESRS SME standard, will form the standard version of the Code. This will allow small and medium-sized enterprises to cover client, bank or insurance company requirements. Further content can also be selected to compile a sustainability report that meets the requirements of the CSRD and the EU taxonomy.