The EU Corporate Sustainability Reporting Directive (CSRD) took effect on January 5 2023, although the first wave of companies in-scope are not expected to start reporting until their 2024 financial year (with the first report to be produced in 2025). Building on the current EU Non-Financial Reporting Directive (NFRD), the CSRD will require detailed qualitative and quantitative sustainability disclosures from a substantially expanded universe of companies.