Sweden adopts new sustainability reporting rules to implement the CSRD
The Swedish Riksdag approved new sustainability reporting rules on 29 May 2024, implementing the EU Corporate Sustainability Reporting Directive in the Annual Accounts Act (årsredovisningslagen). The changes took effect on 1 July 2024 and first apply to the financial year beginning after the end of June 2024. That start is later than the directive requires and drew criticism from the European Commission.
The Swedish Government sent its bill on new sustainability reporting rules (proposition 2023/24:124, Nya regler om hållbarhetsrapportering) to the Riksdag on 3 April 2024, and the Riksdag approved it on 29 May 2024. The bill implements the EU Corporate Sustainability Reporting Directive (CSRD) and a related directive.
What changed
- Companies in scope must include a sustainability report (hållbarhetsrapport) in the management report, prepared under the European Sustainability Reporting Standards, with assurance by an auditor.
- The changes took effect on 1 July 2024 and apply first to the financial year that begins after the end of June 2024. For calendar-year companies, that is the 2025 financial year.
- Scope follows the CSRD's phasing, starting with large public-interest entities.
Who is affected
Large Swedish companies and groups, listed companies and their auditors.
Later developments
On 16 December 2024 the European Commission sent Sweden a reasoned opinion, because the Swedish start date delays the first reports by six months compared with the directive. The EU's 'stop-the-clock' directive (April 2025) and Omnibus I package (2025-26) have since postponed and narrowed CSRD reporting. Check the current Swedish rules before relying on the 2024 timetable.