Are the requirements of CSRD transposed? If yes, what was the implementation date and what is the name of the legislation?
Transposition not yet complete.
Has the local legislation extended the scope of the CSRD, by adding any additional requirements or going beyond the Directive in any way?
Spain has not yet introduced any formal “goldplating” or legally binding extension of the CSRD beyond the requirements set at EU level. The transposition process is still ongoing, with a draft law submitted to Parliament on November 15, 2024, but not yet approved, meaning there is currently no national legislation that expands the scope or adds additional mandatory sustainability reporting requirements beyond the Directive itself.
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 Spanish CSRD transposition follows the EU phased approach and differentiates mainly by business size. Large businesses and public-interest entities are expected to report first and apply the full ESRS requirements, in line with the EU timeline, with CNMV guidance encouraging early alignment. SMEs, particularly listed SMEs, are expected to report later and may use simplified approaches such as the voluntary sustainability reporting standard for SMEs (VSME) instead of full ESRS. Overall, Spain does not introduce additional national categories but mirrors the EU system with lighter requirements for smaller businesses.
Do any enforcement provisions, such as sanctions or penalties exist under local law for non-compliance with CSRD?
Yes.
If the CSRD has not yet been transposed, what steps have been taken towards implementation?
Transposition in process On 5 May 2023, the Preliminary Draft Law Regulating the corporate reporting framework on environmental, social and governance issues, transposing the CSRD was published. On 26 September 2024, the European Commission announced that it opened infringement procedures against Spain for failing to fully transpose the Directive.
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