30/06/2022 (Agence Europe) – On Wednesday 30 June, the ambassadors of the Member States to the European Union (Coreper I) approved the agreement reached with the European Parliament on the ‘CSRD’ directive on sustainability reporting by companies (see EUROPE 12977/14). The text stipulates that a European company which employs more than 250 people and generates €40 million in annual turnover will have to make certain information public - in particular regarding the repercussions of their actions on the environment, human rights, standards and ethics - while respecting common standards. For small and medium-sized enterprises, only listed SMEs will be subject to lighter reporting standards. Once the directive is formally adopted, the European Financial Reporting Advisory Group (EFRAG) will be responsible for setting the reporting standards. (AD)