Ropes & Gray has identified 14 EU member states that have adopted legislation to transpose the 'stop the clock directive' on the CSRD and CSDDD.
Under the ‘stop the clock’ directive, member states are not required to transpose the CSDDD until July 2027, with the due diligence law coming into effect from July 2028. It also delays the second and third waves of mandatory reporting under the CSRD by two years – meaning second wave companies are required to report in 2028.
According to the law firms updated ‘CSRD Transposition Tracker’, Italy, Finland, Romania, Slovakia, Slovenia and Liechtenstein have all implemented the EU directive since August. France, Poland, Cyprus, Hungary, Ireland, Norway, Estonia and Lithuania had done so earlier this year.
Meanwhile, legislation to approve the ‘stop the clock directive’ has been introduced but not yet approved in Germany, the Netherlands, Denmark, Austria, Sweden Belgium, Croatia, Lativia, and Luxembourg.
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