The CSRD Directive was transposed into Romanian law

On 26 January, Directive (EU) 2022/2464 of the European Parliament and of the Council regarding companies’ sustainability reporting, known as the Corporate Sustainability Reporting Directive (CSRD), was transposed into Romanian law through Ministry of Finance Order no. 85/2024 (“OMF 85/2024”).

„This legislative advance underscores Romania's proactive stance in fostering responsible business practices and ensuring that environmental, social, and governance (ESG) considerations are integrated into corporate decision-making processes. By embracing the CSRD, Romania is not only strengthening its economic resilience but also fostering a more sustainable and equitable future for its citizens and the global community alike.”, mentioned Răzvan Butucaru, Partner, Financial Services & Advisory Leader, Mazars in Romania.
2025, the first year of reporting for Romanian companies
The scope of companies subject to reporting obligations has significantly expanded, along with the magnitude of requirements they must fulfil. To allow companies time to prepare, the transition to the new reporting requirements will occur in phases.

However, there are many requirements and companies need to consider starting the implementation process with priority.

Thus, companies currently adhering to OMF 1802/2014 or OMF 2844/2016 accounting standards are scheduled to start sustainability disclosures in the following manner:

 2025 reporting (for financial year 2024)

o medium and large public-interest companies averaging more than 500 employees during the fiscal year;
o public-interest parent companies of a large group, averaging over 500 employees, on a consolidated basis, at the balance sheet date.

 2026 reporting (for financial year 2025)

o medium and large-scale companies not classified as public-interest entities;
o parent companies of large groups that are non-public-interest entities.

 2027 reporting (for financial year 2026)

o companies listed on regulated markets, that do not meet the 2024 and 2025 size criteria for reporting.

 2029 reporting (for financial year 2028)

o Romanian branches or subsidiaries of non-EU parent companies, to publish information disclosures about their parent company/ group, based on specific size requirements.

The CSRD obligations apply to both medium and large-scale companies

Companies are classified based on surpassing at least two of the following three criteria, at the balance sheet date:

 Total assets: over RON 17.5 million (€~3.95 million);
 Net turnover: over RON 35 million (€~7.89 million);
 Average number of employees during the financial year: 50

Large groups are characterised by parent and subsidiary companies that meet at least two of the following criteria on a consolidated level at the parent's balance sheet date:

 Assets over RON 105 million (€~23.68 million).
 Sales exceeding RON 210 million (€~47.36 million).
 Employee average during the financial year: above 250.

„The sustainability report will undergo a mandatory specific audit to verify its accuracy and reliability. Non-listed companies that are part of a consolidated group that reports in the European Union or a third country might qualify for an exemption from individual sustainability reporting in Romania, given certain conditions are met. The implementation of the regulatory requirements will impact not only the reporting process but the entire business model and strategy of the companies.”, mentioned Laura Negrișoiu, Sustainability Director, Mazars in Romania.

The information provided by KomuniK