On February 26, 2025, the European Commission submitted new proposals regarding sustainability reporting under the Corporate Sustainability Reporting Directive (CSRD). Among other things, the reporting obligation is now intended to apply only to large companies with more than 1,000 employees and either annual revenues exceeding EUR 50 million or a balance sheet total of more than EUR 25 million. If this proposal is adopted by the European Parliament and the Council of the European Union, greentech Group will no longer be subject to the reporting obligation as of 2028 (covering the 2027 fiscal year). A deferral of our reporting obligation until 2028 has already been decided.
Transition of greentech Group from GRI Reporting in 2022 to CSRD in 2023
As this development was not foreseeable during the drafting period of our 2023 report, we decided—given our growing business and the anticipated future reporting obligations for the greentech Group at the time—to proactively transition from our 2022 reporting based on the Global Reporting Initiative (GRI) to the CSRD framework in 2023. The goal was to further build and deepen our data foundation in line with the European Sustainability Reporting Standards (ESRS) in subsequent reporting periods. Our 2023 sustainability report, prepared in alignment with the ESRS, is available for download here on our ESG page.
Reporting Framework for Small and Medium-Sized Enterprises Still Unclear
It remains uncertain whether the EU Parliament and Council will adopt the Commission’s proposal, and if so, how reporting obligations for small and medium-sized enterprises (SMEs) will be regulated in this context. One conceivable development could be the introduction of a voluntary reporting standard aligned with the CSRD, based on the VSME standard developed by the European Financial Reporting Advisory Group (EFRAG) for SMEs.
greentech Will Continue Sustainability Reporting
greentech is guided by the philosophy that conscious, sustainable action is essential for a livable future—including responsible corporate behavior. As a specialist in solar and storage technologies, we directly contribute to the energy transition. However, our business activities also have impacts on the environment, people, and society—impacts we aim to understand and actively manage. Conversely, we ourselves are exposed to various external influences and challenges that must be analyzed, assessed, and addressed.
For us, one thing is clear: greentech will continue to report on the company group’s key sustainability activities in the future. Given the still-pending decisions at the EU level, we plan to voluntarily continue our sustainability reporting in 2024, in alignment with the ESRS and CSRD frameworks.
Press contact for this release:
Anika Wist
Corporate Communications
email: presse@greentech.energy
