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CSRD and Dutch Intermediate Holdings
The Corporate Sustainability Reporting Directive (CSRD) is an essential EU legislative element of the European Green Deal aimed at transitioning to a climate-neutral economy by 2050. The CSRD seeks to enhance the quality of corporate non-financial information disclosure, and it is a key initiative for achieving an environmentally sustainable and socially responsible economy in the EU. This directive affects companies with even a minimal presence in the EU – especially in the Netherlands.
CSRD Enforcement
Beginning in 2024, the CSRD will require large companies to prepare sustainability reports, replacing the Non-Financial Reporting Directive (NFRD). From 2025, the net of compliance with the directive widens to include the next tier of companies by size. What is crucial to compliance under the CSRD is understanding the criteria for what constitutes a ‘large’ company or a ‘parent of a large group’. In the Netherlands, intermediate holdings – often used as holding companies for tax structuring – face specific challenges. These entities, even if exempt from consolidated financial reporting, are still required to comply with CSRD reporting for their subsidiaries.
Implications for Dutch Intermediate Holdings using 408
For Dutch intermediate holdings with non-EU parent companies, the CSRD consolidation exemption applies only if the parent company prepares a CSRD-compliant consolidated sustainability report. Starting from 1 January 2025, these holdings will need to comply with CSRD if they lead a large group, as defined by Directive 2013/34/EU. This requirement holds irrespective of the locations of their subsidiaries. Our guide provides more information and can be downloaded via the button on the right.
Deloitte’s Role in CSRD Compliance
Deloitte offers guidance and support to companies navigating the complexities of CSRD compliance. With expertise in financial reporting and sustainability, Deloitte can assist businesses in meeting the new standards effectively.
These emerging requirements represent a significant shift in company reporting within the EU, and Deloitte aims to ensure all businesses achieve compliance efficiently and accurately.
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