Are the requirements of CSRD transposed? If yes, what was the implementation date and what is the name of the legislation?
Partially transposed. Romania has partially transposed the CSRD through amendments to its accounting and financial reporting framework, including ministerial implementing measures (OMF 85/2024 and related acts), on February 2, 2024. However, transposition is considered incomplete, and the European Commission has initiated infringement proceedings for failure to fully implement the Directive. The Stop-the-Clock Directive has been pushed to January 1, 2028.
Has the local legislation extended the scope of the CSRD, by adding any additional requirements or going beyond the Directive in any way?
No (or minimal procedural only).
No substantive expansion of CSRD scope or reporting content has been introduced beyond the EU requirements. Any deviations relate mainly to administrative implementation.
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?
The transposition of the CSRD in Romania affects companies differently depending on their size and listing status, in line with the EU framework. Large undertakings are subject to full sustainability reporting requirements under ESRS standards, following a phased implementation timetable. Listed SMEs fall within scope but benefit from transitional provisions, including the possibility to opt out during an initial period and apply simplified reporting standards. Public-interest entities are included in the first reporting wave due to their systemic relevance. Subsidiaries may be exempt from separate reporting if their parent company prepares consolidated sustainability reporting compliant with CSRD. Overall, the Romanian transposition follows the proportionality approach of the CSRD, with more extensive obligations for large enterprises and simplified or deferred requirements for SMEs.
Do any enforcement provisions, such as sanctions or penalties exist under local law for non-compliance with CSRD?
Yes.
© Eversheds Sutherland. All rights reserved. Eversheds Sutherland is a global provider of legal and other services operating through various separate and distinct legal entities. Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.
Connect with us
