The new European Corporate Sustainability Reporting Directive (CSRD) obliges companies to publish sustainability reports as part of their management report - including an independent review of the information. The EU directive also anchors transparent sustainability reporting in small and medium-sized companies. The requirements initially apply to companies that are already obliged to submit a sustainability report. The directive must be transposed into German law by July 2024.
From January 1, 2024, the German Supply Chain Due Diligence Act (LkSG) will also come into force for all companies with more than 1,000 employees in Germany. Previously, the threshold was 3,000 employees. In addition, the new EU General Product Safety Regulation (EU) 2023/988 comes into force on December 13, 2024 and replaces the old directive from 2001. Significant changes affect online trade. For the purposes of the regulation, consumer products are deemed to be made available on the market if they are offered online. The obligations arising from the Product Safety Regulation therefore apply at an earlier point in time. Among other things, certain labeling obligations apply to the products and offers.