CSRD 是欧盟在企业可持续发展披露（ESG）方面的法令，而 EARS 类似于一个官方的披露框架（标准）。

The Corporate Sustainability Reporting Directive (CSRD) is an EU ESG standard passed by European Union Council on November 28, 2022 designed to make corporate sustainability reporting more common, consistent, and standardized like financial accounting and reporting. The CSRD will apply to all companies with:

● Over 250 employees

● More than 40€ million in annual revenue

● More than 20€ million in total assets

● Publicly-listed equities and have more than 10 employees or 20€ million revenue

● International and non-EU companies with more than 150€ million annual revenue within the EU and which have at least one subsidiary or branch in the EU exceeding certain thresholds Any EU company that meets that criteria is required to file an annual report using the CSRD's forthcoming sustainability taxonomy on how sustainability influences their business, as well as the company's impact on people and the environment.

The CSRD is a European law that requires eligible companies to issue annual sustainability reports. The ESRS, by comparison, outlines how and what information and ESG metrics companies need to report to European regulators to comply with the CSRD.

The EU CSRD regulation takes effect in four phases:

1.Companies already subject to the NFRD must begin reporting using ESRS standards in 2025 on their 2024 financial year

2.Large companies not currently subject to the NFRD must begin reporting using ESRS standards in 2026 on their 2025 financial year

3.Listed SMEs (except micro undertakings), small and non-complex credit institutions, and captive insurance undertakings must begin reporting in 2027 on their 2026 financial year

4.International companies with net turnover above 150€ million in the EU who meet other CSRD requirements must begin reporting in 2029 on their 2028 financial year