France Introduces Possible Jail Time As Penalty For Non-Compliance With Sustainability Disclosure
the European Union’s (EU) Corporate Sustainability Reporting Directive (CSRD) will officially take effect from January 1, 2024, requiring in scope companies to disclose information on what they see as the risks and opportunities arising from social and environmental issues, and also on the impact of their activities on people and the environment. However, for an EU directive to become operational, it must be incorporated by member states into their own national legislative frameworks and France has become the first member state to implement the law on December 6, 2023. Moreover, the French government has also introduced some serious penalties for non-compliance.
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