What is CSRD, ESRS and VSME?

Well, they are three different abbreviations for three different ways of sustainability reporting.

CSRD stands for Corporate Sustainability Reporting Directive.

ESRS means European Sustainability Reporting Standards.

VSME means The Voluntary Standard for non-listed micro-, small- and medium-sized Enterprises.

In practice, there are three different levels to report on sustainability. The CSRD is an EU directive under the Annual Accounts Act that requires companies to report sustainability information.

The ESRS specifies the standards and guidelines that specify how companies should report and covers 12 different reporting areas.

VSME is a voluntary standard that makes it easier for small and medium-sized companies to report on sustainability.