Paper Title
Green (R) Evolution in the EU Under the Magnifying Glass: New Corporate Sustainability Reporting Directive

Abstract
With EU sustainability regulations on the horizon, as a result of efforts to make the European Green Deal a reality, companies need to ensure they are agile and forward-looking to adapt to the new requirements to maintain their competitiveness. The paper aims to present the results of a study on the new and currently most crucial act for the EU market - Corporate Sustainability Reporting Directive (CSRD), which came into force in January 2023. The CSRD replaces and enhances the Non-Financial Reporting Directive (NFRD) by introducing more detailed reporting requirements on strategies related to environmental protection, social responsibility, and respect for human rights (issues identified with sustainability, ESG and CSR). It expands extremely the number of companies that have to comply to almost 50,000 in the EU and is not only binding upon EU-registered companies, but it also binds US companies that have at least one subsidiary in the EU. Furthermore, EU Member countries are obliged to introduce appropriate sanctions in case of non-compliance with CSRD rules, mainly administrative financial penalties. An in-depth comparative analysis has been made of the new scope obligations, together with an assessment of proportionality and the feasibility of the Directive's objectives in the nearest practice of companies. As a result, introduction of a CSRD may ensure continuity in the supply chain and seems to be a material measure to increase corporate transparency, relevance, consistency and comparability of sustainability information. Therefore appears to be a future catalyst for companies to increase disclosure of environmental and climate risks to help consumers and investors make sustainable choices. Keywords - Corporate Sustainability, Non-Financial Reporting, CSRD, ESG, EU,