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Just a moment before you get a full overview of the requirements, frameworks and guidelines that apply to your company and your sector…

Start your net zero journey with this tailor-made list of carbon reporting frameworks suitable for your business.

The EU’s Non-Financial Reporting Directive (NFRD) applies to all companies with more than 500 employees. In Sweden’s implementation of the directive, it applies to all companies with more than 250 employees. NFRD is set to be replaced by CSRD for the 2023 reporting year.

Large companies with more than 500 employees

Companies must disclose information regarding (1) environmental impact, (2) social and employee issues, (3) human rights, and (4) bribery and corruption.

With respect to environmental impact, it is recommended that companies disclose scope 1, 2, and 3 emissions, as well as absolute reduction targets.

It is recommended that banks and insurance companies focus on their scope 3 emissions, despite the difficulties.


From January 1st, 2024, it will apply to companies already subject to an extra-financial reporting obligation (Extra-Financial Performance Statement) under the NFRD (large listed companies with more than 500 employees). 

From January 1st, 2025, large companies meeting 2 of the following 3 criteria: 250 employees, €40 million in net sales, or €20 million on the balance sheet

From January 1st, 2026, to listed SMEs (10 to 250 employees), with the possibility of deferring their reporting obligation for 3 years with a lighter standard.

From January 1st, 2028, to the European subsidiaries of non-European parent companies that generate more than €150m in turnover in Europe. Note that subsidiaries may be exempt from reporting if the parent companies already provide a sustainability report in accordance with the CSRD (this exemption does not apply to listed subsidiaries).

EU companies meeting two or more of the following three conditions will have to comply: €40 million in net turnover, €20 million in assets and 250 or more employees

In addition, listed SMEs, and non-EU-based companies with subsidiaries or securities in the EU  must also comply with CSRD.

The CSRD is set to replace the NFRD, starting in the financial year 2023. Listed SMEs are given until 2026 to comply.

Business model (e.g. resilience to climate-related risks)

Policies (e.g. measurable sustainability targets, due diligence processes implemented).

Risks and risk management (principal sustainability risks and how they are managed).

Intensity ratios (e.g. emissions per unit revenue)

Corporate Sustainability Reporting Directive (CSRD)

The United States Securities and Exchange Commission (SEC) has proposed new rules to enhance and standardize climate-related disclosures by public companies. If accepted, they would be phased in between 2023 and 2026. Among other things, companies would need to disclose the following: 

Public companies (to be confirmed if the proposal is adopted)

Scope 3 emissions, if they are material or if the company has set scope 3 targets (small companies are exempt from this requirement)

The material impact of climate risks on its business

The impact of climate risks on strategy and business model 

The impact of climate-related events (e.g. severe weather) on items of their consolidated financial statements

Quoted companies (companies listed on a public exchange) Large unquoted companies Large limited liability partnerships (LLPs) 

Companies and LLPs are considered “large” if they meet two or more of the following criteria: 
- a turnover of $36 million or more ;
- a balance sheet of $18 million or more ;
- 250 employees or more.

Large unquoted companies and LLPs are exempt from SECR reporting if they can show that their energy use during the reporting period is less than 40 MWh

All UK businesses in the following three categories have to comply, unless they meet certain exemption criteria:

Quoted companies (i.e. listed on the stock market)

Large limited liability partnerships (LLPs)
Companies and LLPs are defined as large if they meet two or more of the following criteria:

Large unquoted companies and LLPs are exempt from reporting if they can show that their energy use is less than 40 MWh over the reporting period. 

According to the UK’s SECR legislation, quoted companies must report:
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Large unquoted companies and LLPs  must report:
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Streamlined Energy and Carbon Reporting (SECR)

Failure to comply with mandatory requirements leads to fines, reputational harm, and loss of certain RFPs and government contracts, while also opening your company to lawsuits.

Companies must report on their governance, strategy, risk management, targets, and metrics with respect to climate-related risks and opportunities. 

Companies must disclose their  scope 1,  scope 2, and, if appropriate,  scope 3 emissions

Task Force on Climate-related Financial Disclosures (TCFD)

Companies must set reduction targets for their scope 1 and 2 emissions for the next 5-15 years that are consistent with a temperature rise below 1.5°C compared to pre-industrial levels.

Companies must also measure all of their scope 3 emissions

If the company’s scope 3 emissions make up more than 40% of their total emissions, they must also set a reduction target for scope 3 emissions.

No specificity to mention.  However, please note that the SBTi provides useful guidelines in the following sectors: aluminum, aviation, buildings, cement, chemicals, clothing, finance, forest land and agriculture, information and communication technology, power, steel, transport)

Whether they had any emissions targets and emission reduction initiatives.

You must include a statement on your sustainable development strategy.

You must determine which sustainable development topics are material to your business.

If you decide that GHG emissions are a material topic, you must report on the following: Scope 1, 2, 3 emissions, GHG emissions intensity ratio, Reduction of GHG emissions

Companies commit to halving their scope 1, scope 2 and business travel emissions by 2030, and to reaching net zero by 2050.

If Scope 3 emissions are material to your total emissions, and the data allows you to measure them, you should also aim to cut scope 3 emissions in half this decade. 

Companies must disclose their progress on a yearly basis.

While voluntary, these frameworks are designed to help your business prepare and adapt to future requirements.

The aluminum sector contributes more than 1 gigatonne of carbon dioxide equivalent per year (about 2% of global emissions), according to the International Aluminum Institute (IAI).  

SBTi is developing guidelines for the aluminum sector (SBTi Aluminium).

SBTi has developed guidelines for the aviation sector (SBTi Aviation) 

Airlines can reduce their emissions by renewing their fleet, improving operational efficiency and adopting sustainable aviation fuels.

According to the International Energy Agency (IEA), the buildings sector accounts for around 37% of global CO2 emissions, when construction and use are included. developing guidelines for this sector (SBTi Buildings) 

The sector can reduce emissions through energy-efficient building designs, electrification and increased reliance on renewable energy 

SBTi is developing guidelines for this sector (SBTi Buildings)

According to the International Energy Agency (IEA), the cement sector emitted 2.4 gigatonnes of CO2 in 2019, or around 26% of total industrial emissions. 

Reducing emissions from cement is difficult and will require a range of technological solutions, in conjunction with reduced demand through increased efficiency. 

SBTi has developed guidelines for this sector (SBTi Cement).

The chemical sector is responsible for one-eighth of industrial carbon emissions worldwide.  

Scope 3 emissions are particularly high for this sector, but many companies lack accurate data.  

SBTi is developing guidelines for this sector (SBTi Chemicals)

Scope 3 emissions are particularly important for this sector SBTi has developed guidance for the apparel sector (SBTi Apparel and Footwear).  

ASICS, H&M and Levi Strauss & Co have all set science-based targets.

Financial institutions have a crucial role to play in the transition to a net-zero economy. 

SBTi has developed guidelines for the finance sector (SBTi Financial institutions)

Nearly 25% of annual global greenhouse gas emissions come from agriculture, forestry and other land uses. Moreover, agricultural production is expected to double by 2050, to meet the needs of the growing world population. 

The sector can reduce emissions by reducing land use change, reducing agricultural emissions and reducing emissions through demand changes. 

SBTi is developing guidelines for this sector (SBTi FLAG)

The ICT sector can reduce emissions by continuing to implement energy efficiency plans, switching to renewable or low-carbon electricity, and promoting carbon awareness among end users.  

SBTi has developed guidelines for this sector (SBTi ICT)

The electricity sector can significantly reduce emissions thanks to the rapidly falling costs of renewable energies such as solar and wind, and the growing demand for renewable electricity. 

SBTI has developed guidelines for this sector (SBTI Power)

Globally, direct emissions from the steel sector accounted for 28% of industrial emissions in 2019, according to the International Energy Agency.

SBTi is developing guidelines for this sector (SBTi Steel)

the transportation sector accounts for 23% of energy-related emissions globally, and is also a rapidly growing sector.  

SBTi has developed guidelines for this sector (SBTi Transport)

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