CO₂ reporting obligation for vehicle fleets
The CO₂ reporting obligation for companies will come into force in January 2024. What fleet managers have to consider, to which companies it applies & how fleetster can support!
What are CO₂ reports?
The Corporate Sustainability Reporting Directive (CSRD replaces the previous Non-Financial Reporting Directive (NFRD) and is expected to apply from fiscal 2024. The aim is to increase transparency in the area of sustainability. The CSRD brings with it stricter and more comprehensive reporting requirements that will apply to four times as many EU companies.
The main objective of the CSRD is to significantly increase transparency in the area of sustainability, and companies will now have to comply with more comprehensive reporting requirements by including the CSRD as an integral part of their annual reports and business activities.
Companies with at least two of the three characteristics are required:
> 250 employees
Applies to companies that have more than 250 employees
> 20 million euros
Applies to companies with a balance sheet total of more than 20 million euros.
> 40 million Euro
Applies to companies that have a turnover of more than 40 euros.
The CSRD is applied in four stages:
When does the directive come into force?
The CO2 Report informs you about the planned CSRD and its impact on companies.
- As of January 1, 2024, companies already subject to the Non-Financial Information Disclosure Directive will have to comply with the new rules, reporting on 2024 data in 2025.
- As of January 1, 2025, large companies that were not previously subject to the directive must comply with the new requirements.
- From January 1, 2026, the rules will also apply to listed SMEs and small and non-complex credit institutions and captive insurance companies.
- From January 1, 2028, non-EU companies covered by the CSRD reporting obligation will also have to comply with the directive
How fleetster can support fleet managers:
Fuel card import
We can collect CO₂ data by importing fuel cards
Collect data with telematics device
We can collect data with telematics devices to get all the data from the vehicles.
CO₂ Overview
With our live reports, we can provide a CO₂-live overview.
CO₂ Export
In addition, CO₂ reports can also be exported via our report function.
What form does the report take?
With the introduction of the CSRD, sustainability reporting will become a mandatory part of annual reports. Separate sustainability reports, as still possible under the current NFRD, will no longer be permitted. Sustainability will thus be considered a strategic element of a company's business activities.
Companies are only exempt from the reporting requirement if they are part of a parent group and can refer to the consolidated group report, which complies with the European reporting requirements.
The first reporting standards are to be adopted by June 30, 2023. A second set of reporting standards, which are sector-specific and adapted to the respective form of enterprise, will be developed until June 30, 2024 expected.
You want to learn more about?
Contact us with any further questions by simply sending us a request with your contact information.
