Are the requirements of CSRD transposed? If yes, what was the implementation date and what is the name of the legislation?
Yes. The CSRD has been fully transposed. In December 2023, amendments were made to the Accounting Act, the Auditing Act, the Companies Act and the Securities Markets Act. The Omnibus I Directive has also been transposed (entered into force 30 June 2026).
The transposing legislation implements the core CSRD obligations, including reporting on environmental, social and governance factors, subject to the scope, assurance and enforcement provisions described in the adjacent columns.
The Stop-the-Clock Directive was transposed through amendments to the Accounting Act, entering into force on 1 December 2025.
The Omnibus I Directive was transposed through amendments to the Accounting Act and the Auditing Act. The amendments entered into force on 30 June 2026, with provisions applicable retroactively to financial years beginning on or after 1 January 2026.
Has the local legislation extended the scope of the CSRD, by adding any additional requirements or going beyond the Directive in any way?
Yes.
The scope is extended to apply to more entities, including to large/listed co-operatives and large pensions institutions.
How does the transposition affect different types of companies? Are there specific provisions for different sizes or types of companies, such as SMEs versus large enterprises?
Following Omnibus I transposition, the reporting obligation is now determined solely by whether a company exceeds both cumulative thresholds: >1,000 employees and >EUR 450 million net turnover, regardless of listing status. Listed SMEs are no longer in scope for mandatory reporting (though voluntary reporting under the VSME framework remains available). The sustainability reporting obligation is phased in as follows:
- 2025: for large public-interest companies (with over 1,000 employees and net turnover exceeding EUR 450 million, already subject to the NFRD) for 2024 financial year. Those that fall below the new thresholds may opt out of reporting from FY 2025 onwards.
- 2028: all other undertakings exceeding >1,000 employees and >EUR 450 million net turnover - for 2027 financial year
- 2029: for third‑country companies with net turnover exceeding EUR 450 million in the EU and exercising control over a Finnish subsidiary exceeding the thresholds, or having a branch generating EUR 200 million+ turnover, whose reporting obligation remains for financial years starting 1 January 2028 or later
Do any enforcement provisions, such as sanctions or penalties exist under local law for non-compliance with CSRD?
Yes. The Accounting Act provides for administrative sanctions, and the Financial Supervisory Authority has oversight powers in respect of listed entities' sustainability reporting.
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