On 20 November 2023, the draft proposal on the Decree implementing the Corporate Sustainability Reporting Directive (Directive (EU) 2022/2464, CSRD) (the Implementation Decree) was published for public consultation. The Implementation Decree, together with the Implementation Act CSRD (Wet implementatie richtlijn duurzaamheidsrapportering) willimplement the sustainability reporting requirements in CSRD into Dutch law.


The Implementation Decree requires the following entities to prepare and publish a sustainability report:

  • listed companies (except for micro companies);
  • large, unlisted companies;
  • listed banks or insurers; and
  • large, unlisted banks or insurers.

Companies, banks and insurers that head a large group are required to prepare the sustainability report on a consolidated basis.

The Implementation Decree will also impose requirements on subsidiaries and branches the parent company of which is located outside the European Economic Area (EEA) whose net sales in the EEA exceed EUR 150 million. Such subsidiaries and branches must publish a sustainability report that covers the entire group of the ultimate parent company.

Requirements to sustainability reporting

The specifics of the requirements for the content of the sustainability report, which will need to be included in the management report, largely refer to the sustainability reporting standards that will be prepared to the European Commission.

The sustainability report will, in principle, be required to be approved by an external accountant. The draft Implementation Decree does not yet provide whether the Member State options to have the report approved by another party will be applied.

CSRD provides that Member States may allow reporting companies to omit commercially sensitive information in the sustainability report, aiming to balance the importance of disclosure with competitive interests. The exception will only be available in case of imminent developments or matters under negotiation. Such omission may not prevent a true and balanced understanding of the development, results and position of the company and of the effects of its activities.

The Implementation Decree allows the sustainability report of subsidiaries and branch offices of third-country parent companies to be prepared in the Dutch, German, French or English language.

Market parties are invited to respond to the Implementation Decree. The deadline for responding 18 December 2023. The Implementation Decree is available here.