Should SMEs Be Subject to Mandatory Sustainability Reporting?
European Company and Financial Law Review, cilt.22, sa.4, ss.475-518, 2025 (ESCI, Scopus)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 22 Sayı: 4
- Basım Tarihi: 2025
- Doi Numarası: 10.1515/ecfr-2025-0023
- Dergi Adı: European Company and Financial Law Review
- Derginin Tarandığı İndeksler: Emerging Sources Citation Index (ESCI), Scopus, IBZ Online
- Sayfa Sayıları: ss.475-518
- Ankara Yıldırım Beyazıt Üniversitesi Adresli: Evet
Özet
475Abstract: Today, we are facing one of the most severe crises of our time: the climate crisis. With the climate crisis, corporate disclosure requirements have been refocused on the function of promoting climate and social policy objectives. Legislators are mandating the disclosure of sustainability-related information in an attempt to steer corporate behaviour. In line with this, the European Union is using the disclosure requirements set out in the Corporate Sustainability Reporting Directive (CSRD) as a regulatory instrument to achieve the goal of a sustainable future. However, micro companies and non-listed SMEs are exempt from these sustainability reporting requirements. Moreover, following the introduction of the CSRD, the EU is faced with the dilemma of balancing sustainability with economic competitiveness. In order to strengthen Europe's economy and boost competitiveness, the European Commission seeks to reduce the scope of the CSRD to large companies with more than 1,000 employees under the current "Omnibus I Proposal", whereas the Committee on Legal Affairs of the European Parliament aims to cut it to companies with over 3,000 employees and a net turnover exceeding EUR 450 million. In light of these developments, this paper examines whether it would be coherent with the CSRD's goal of a sustainable future to further limit the scope of companies or whether all SMEs should be subject to mandatory sustainability reporting.476