Which companies must submit sustainability reports is decided by the CSRD Directive, which is gradually being implemented into Swedish law. Companies are covered by the reporting requirement if they meet at least two of the three size criteria, which means that significantly more companies than before must submit sustainability reports under the new requirements.
Size criteria under CSRD
Companies must submit sustainability reports if they meet two of the following three criteria: More than 250 employees on average during the financial year. A balance sheet total exceeding 25 million euros, which corresponds to approximately 275 million kronor. A net turnover exceeding €50 million, equivalent to approximately SEK 550 million. Listed companies are covered regardless of size, except micro-enterprises. These rules are still evolving. For the latest updates, please refer to Finansinspektionen’s CSRD page.
Phased implementation
CSRD is being implemented in stages. From the 2024 financial year, requirements will apply to large companies who were already covered by previous directives. From the 2025 financial year, large companies not previously required to report will be covered. From the 2026 financial year, requirements will apply to listed small and medium-sized enterprises. Swedish companies will need to follow this timeline and must prepare well in advance.
Translation for international reporting
Companies with international owners or operations require an English version of their sustainability report. A translation partner with ISO-certified system support offers experts in sustainability taxonomy and CSRD terminology, translation of comprehensive reports, copywriters for strategic content, applies the four-eyes principle and has an understanding of different markets’ sustainability requirements and ESG expectations. Read more about sustainability reporting and Fluid’s work here.