1.2. Sustainability information to be reported at consolidated level under Article 29a Accounting Directive (consolidated sustainability statement)

Commission Notice on the interpretation of certain legal provisions in Directive 2013/34/EU (Accounting Directive), Directive 2006/43/EC (Audit Directive), Regulation (EU) No 537/2014 (Audit Regulation), Directive 2004/109/EC (Transparency Directive), Delegated Regulation (EU) 2023/2772 (first set of European Sustainability Reporting Standards, ‘first ESRS delegated act’), and Regulation (EU) 2019/2088 (Sustainable Finance Disclosures Regulation, ‘SFDR’) as regards sustainability reporting · European Union

Based on Article 29a Accounting Directive, an undertaking governed by the law of a Member State that is a parent undertaking of a large group (43) must report sustainability information at consolidated level (consolidated sustainability statement) concerning the undertaking’s impacts on sustainability matters, and concerning how sustainability matters affect the undertaking’s development, performance and position. The consolidated sustainability statement must comply with the same requirements specified for the individual sustainability statement (paragraph 1.1 above, points (i) to (v)) (44). These requirements must be complied with based on the following phased approach (45): for financial years starting on or after 1 January 2024 (i.e. for publication in 2025): public-interest entities that are parent undertakings of a large group exceeding on its balance sheet dates, on a consolidated basis, an average number of 500 employees during the financial year; for financial years starting on or after 1 January 2025 (i.e. with publication in 2026): the other parent undertakings of a large group (i.e. parent undertakings of a large group that are not ‘ public-interest entities and/or whose group does not exceed on its balance sheet dates, on a consolidated basis, an average number of 500 employees during the financial year ’). A parent undertaking that publishes a consolidated sustainability statement is exempt from the obligation to publish its individual sustainability statement (46). A parent undertaking that is also a subsidiary undertaking is exempt from publishing a consolidated sustainability statement where the information is included in the consolidated sustainability statement or consolidated sustainability reporting of another parent undertaking, provided that certain conditions are met as regards the content of the exempted undertaking’s management report and the publication of the sustainability information by the parent undertaking (47). Large undertakings with securities admitted to trading on an EU regulated market – including small and non-complex institutions, captive insurance undertakings and captive reinsurance undertakings and including third-country undertakings – cannot avail of this exemption (48).

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Source: EUR-Lex (Cellar) · retrieved 2026-09-07 · Text as adopted (Official Journal); later amendments are not incorporated in this text.