Synopsis
Amendments by these regulations delay certain corporate sustainability reporting deadlines under the Companies Act 2014.
Irish incorporated public-interest entities with 500 or more employees will now be required to publish their first report in 2028, based on data for the 2027 financial year. This is deferred from the original deadline of 2026.
Irish-listed SMEs, small and non-complex institutions, and captive insurance or reinsurance undertakings will be required to issue their first reports in 2029, based on 2028 data.
Summary
The European Union (Corporate Sustainability Reporting) Regulations 2025 amended the Companies Act 2014 on 7 July 2025.
This legislation applies in the Republic of Ireland only.
What has changed?
Deferral of Corporate Sustainability Reporting Timelines
Irish incorporated public-interest entities with 500 or more employees will now be required to publish their first report in 2028, based on data for the 2027 financial year. This is deferred from the original deadline of 2026, based on data from the 2025 year.
Irish-listed SMEs, small and non-complex institutions, and captive insurance or reinsurance undertakings will be required to issue their first reports in 2029, based on 2028 data.
Clarification of Net Turnover
The definition of "net turnover" for determining whether a company qualifies as an “applicable company” under Part 28 of the Companies Act 2014 has been updated to better align with the EU Accounting Directive.
Scope Adjustments
The definition of an "applicable company" has been clarified. This now excludes that would otherwise be deemed “large” solely because they are “ineligible entities” under the Companies Act 2014. As a result, ineligible entities are now excluded from the scope of sustainability reporting obligations.
Subsidiary Exemptions
Amendments made exempt Irish in-scope subsidiary companies from producing their own sustainability report if adequate equivalent information is included in the report of its EU parent.
Applicable Subsidiaries
Reporting obligations will apply to Irish subsidiaries of non-EU undertakings where the non-EU
Ultimate Parent Company Reporting
The amendments add a definition of ‘ultimate parent company.’ As a result, only the ultimate parent company may be required to prepare a corporate sustainability report.
Reporting obligations for parent undertakings outside the EU will apply from 1 January 2028. Irish or other EU in-scope subsidiaries will be required to produce group-level reports if the non-EU parent undertaking generated a net turnover above €150 million in the preceding two consecutive financial years.
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