On January 5, 2023, the EU Corporate Sustainability Reporting Directive entered into force. This new directive codifies the rules about the social and environmental information that companies have to report. Approximately 50,000 large companies and small and medium-sized enterprises will now be required to report on sustainability of their activities. The directive is aimed to secure that investors and other stakeholders have access to the information they need to assess investment risks arising from climate change and other sustainability issues. The new rules will be applied for the first time in financial year 2024 for reports published in 2025.