The European Commission announced that it has sent letters to 17 EU Member States, opening infringement proceedings against them for failing to notify that they have fully transposed the new Corporate Sustainability Reporting Directive (CSRD). Directive (EU) 2022/2464 of the European Parliament and of the Council, into their national legislation. The CSRD is a major update of the EU Non-Financial Reporting Directive (NFRD), the previous EU framework for sustainability reporting, significantly expanding the number of companies that must provide sustainability information to over 50,000 from around 12,000. Based on the new European Core Sustainability Reporting Standards (ESRS), the CSRD introduces more detailed reporting requirements on a company's environmental, human rights and social impacts and sustainability-related risks. (Mark Segal, more at esgtoday.com)