CSRD 2026: What Changes with the Correction and What Companies Must Do

Key data

Large companies and listed groups in the EU have an obligation that no longer admits delays: publishing sustainability reports in accordance with Directive 2022/2464/EU (CSRD). The rectification published on 1 July 2026 under the reference CELEX:32022L2464R(09) corrects material errors in the regulatory text, but does not modify the substance of the obligations. In practice, this means that the framework remains in place and any company that has not initiated its adaptation is accumulating risk.

The CSRD significantly expands the number of companies required to report non-financial information, incorporating ESG criteria (environment, social and governance) under the European Sustainability Standards (ESRS). This technical correction closes possible drafting ambiguities without opening new deadlines or exceptions.

What does this regulation establish?

The rectification CELEX:32022L2464R(09) corrects material errors detected in the text of Directive 2022/2464/EU (CSRD). It does not introduce new obligations or modify the application deadlines already established. Its function is to ensure the legal coherence of the regulatory text.

The CSRD, in its corrected version, establishes the following substantive obligations:

• Publication of sustainability reports integrated into the annual management report.
• Collection and disclosure of data in accordance with European Sustainability Standards (ESRS), which cover the three ESG dimensions: environment, social and governance.
• Expansion of the scope of obligated companies: the CSRD extends obligations beyond large listed companies, including large unlisted companies that exceed certain thresholds.
• External verification of the sustainability report by an accredited auditor or verifier.

Economic and operational impact

The impact of the CSRD is not just formal compliance: it directly affects operations, internal costs, and access to financing for obligated companies.

• Adaptation costs: Companies must invest in systems for collecting, managing and verifying ESG data. This involves technology, internal training and, in many cases, specialized consulting.
• Access to financing: Institutional investors and financial entities use CSRD reports to assess ESG risk. A company without a report or with a deficient report may see its financing become more expensive or restricted.
• Corporate reputation: Non-compliance or publication of low-quality reports has a direct impact on the perception of customers, partners and markets.
• Sanctions: Non-compliance with reporting obligations can result in sanctions, the specific amount of which depends on the national transposition of the directive in each Member State.

The error correction published on 1 July 2026 does not open new grace periods. Companies that should already be adapted do not obtain any additional extension with this rectification.

Who does it affect?

• Large companies that exceed the CSRD thresholds (number of employees, balance sheet or turnover) with operations in the EU.
• Listed companies on regulated markets in the EU, including listed SMEs (with specific regime and differentiated deadlines).
• Business groups with parent or subsidiary companies in the EU that consolidate accounts.
• CFOs and financial directors responsible for preparing and verifying the sustainability report.
• Advisors, auditors and consultants providing services to companies in the field of non-financial reporting.
• Financial entities and investment funds that assess the ESG risk of their investees or clients.

Practical example

An industrial group based in Spain, with more than 500 employees and listed on a European regulated market, is fully subject to the CSRD. Its financial department must:

1. Identify which ESRS (European Sustainability Standards) apply to it according to its sector and materiality.
2. Implement an ESG data collection system that covers the three dimensions: environment (emissions, energy consumption), social (working conditions, diversity) and governance (control structure, business ethics).
3. Hire an accredited external verifier to audit the report before publication.
4. Integrate the sustainability report into the annual management report, not as a separate document.

If this group does not have the data collection system in place, the correction published on 1 July 2026 does not grant it more time: non-compliance remains exposed to sanctions and deterioration of its access to institutional financing.

What should companies do now?

1. Verify if you are within the scope of application: Check whether your company or group exceeds the CSRD thresholds (employees, balance sheet, turnover) or is listed on a regulated market in the EU.
2. Review the corrected text of Directive 2022/2464/EU: Ensure that your legal advisor works with the updated version following the rectification CELEX:32022L2464R(09).
3. Audit your ESG data system: Assess whether you have the capacity to collect, manage and verify data in accordance with ESRS in the three dimensions (environment, social, governance).
4. Select an accredited external verifier: The CSRD requires independent verification of the report. Identify and hire this service with sufficient advance notice.
5. Integrate the report into the management report: The sustainability report is not a separate document; it must be part of the annual management report.
6. Assess the impact on financing: Communicate to your financial entity and investors the status of your CSRD adaptation to anticipate possible effects on credit or investment conditions.

Official source

Consult the complete regulation on official source

Disclaimer: This article is for informational purposes only and does not constitute legal advice. For specific decisions, consult a qualified professional. Source: https://eur-lex.europa.eu/./legal-content/AUTO/?uri=CELEX:32022L2464R(09)