UNVEILING THE EUROPEAN SINGLE REPORTING STANDARD UNDER THE CORPORATE SUSTAINABILITY REPORTING DIRECTIVE. A UNIFIED APPROACH TO SUSTAINABLE REPORTING

Stanciulescu Raluca-Ioana and Vezeteu Cosmin-Danut
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Stanciulescu Raluca-Ioana: BUCHAREST UNIVERSITY OF ECONOMIC STUDIES
Vezeteu Cosmin-Danut: TRANSILVANIA UNIVERSITY OF BRASOV

Annals - Economy Series, 2025, vol. 1, 274-281

Abstract: Corporate social responsibility disclosure has acquired an important status, and it has become an indispensable tool in promoting corporate commitment to sustainable practices. To support this trend of increasing transparency and commitment to the successful implementation of corporate sustainability strategies, the European Union (EU) has established the Corporate Sustainability Reporting Directive (CSRD), which represents a significant turning point. The CSRD has the aim to provide a legal and regulatory foundation for the standardization of sustainability reporting approaches across the EU. This framework is built around the Single European Reporting Standard (ESRS). This study, which takes the form of a theoretical paper, aims to provide an overview of the implementation of the ESRS, with a focus on highlighting the fundamental characteristics, advantages, challenges and potential improvements resulting from this initiative. The ESRS has been designed to increase added value in the consolidation and standardization of sustainability reporting, which will result in increased transparency, comparability and effectiveness of the mandatory information provided by organizations, and a uniform way of reporting. Although the ESRS indirectly aims to improve the way key parties are involved, the implementation of the ESRS faces challenges mainly due to the technical actions that organizations need to take to adapt and align with the existing regulations. To successfully implement ESRS to achieve long-term development goals and promote a more resilient and responsible economy within the EU, it will be necessary to recognize the importance of sustainability reporting from all political decision-makers, standardization agencies, companies, and civil society.

Keywords: Corporate Sustainability Reporting Directive; European Single Reporting Standard; Environmental Sustainability; Regulatory Economics (search for similar items in EconPapers)
Date: 2025
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