Governance Briefing — April 30, 2025

Executive briefing: For financial years beginning on or after 1 January 2024, large EU public-interest entities must prepare sustainability statements in line with the Corporate Sustainability Reporting Directive (CSRD). Companies with 31 December year-ends must file management reports by 30 April 2025, including European Sustainability Reporting Standards (ESRS) disclosures approved by the administrative, management, and supervisory bodies.

Key governance signals

Board approval and responsibility. Article 19a of Directive 2013/34/EU assigns collective responsibility to the management body for sustainability reporting accuracy and requires statements confirming compliance with ESRS.
Limited assurance mandatory. Article 34 tasks statutory auditors or independent assurance providers with limited assurance, so audit committees must oversee readiness and evidence.
Double materiality assessments documented. Boards must endorse processes capturing impact and financial materiality, with narrative on stakeholder engagement and data governance.

Action checklist

Approve ESRS-compliant disclosures and ensure the management report integrates climate, workforce, and governance metrics with financial statements.
Secure assurance engagements, confirm scope for limited assurance, and align audit committee agendas to track remediation of assurance findings.
Retain documentation of double materiality judgements, including board challenge of thresholds and stakeholder evidence.

Sources

Zeph Tech guides EU boards on ESRS implementation controls, assurance coordination, and evidence trails for double materiality assessments before the April 2025 filing cycle.