Introduction
Corruption continues to be one of the greatest challenges for sustainable and responsible corporate governance. On 9 December, International Anti-Corruption Day, attention is drawn to the need to promote corruption-free structures in all areas of business and society. With the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS), the EU has created a legal framework that obliges companies not only to be transparent, but also to actively combat corruption. The implementation of these standards represents a great opportunity to strengthen compliance systems and build trust among stakeholders.
Current information on the CSRD and the requirements in the ESRS
As part of the ESRS, in particular the ESRS G1 Corporate Governance standard, companies are obliged to report comprehensively on their measures to combat corruption and bribery. The requirements include, among other things
The identification and assessment of risks relating to corruption and bribery,
The description of internal control mechanisms and guidelines aimed at prevention,
The disclosure of incidents and measures to remedy and sanction them.
From the 2025 financial year, large companies are obliged to prepare a sustainability report in accordance with the CSRD if they fulfil two of three criteria: they employ more than 250 people, have a turnover of more than 50 million euros or a balance sheet total of more than 25 million euros.
The importance of anti-corruption reporting in the ESRS
The obligation to disclose corruption risks goes beyond mere transparency. It actively encourages companies to implement measures to prevent corruption. These include:
Risk assessment: companies must identify and assess business areas susceptible to corruption.
Preventive measures: These include the introduction of whistleblowing systems, training programmes and guidelines for business partners.
Sanctions: Companies must implement clear and consistent measures in the event of breaches of internal compliance guidelines.
The ESRS requirements provide companies with a clear framework for systematically implementing these points and reviewing the effectiveness of the measures.
Practical implications
The fulfilment of the new reporting obligations requires an intensive review and adjustment of internal processes. In particular, governance structures are coming into focus, as responsibility for preventing corruption often lies with compliance and legal departments. However, the new standards require these measures to be more closely integrated into the company's overall strategy. Data collection is also becoming more important, as companies need to systematically record and process reliable information on corruption risks and incidents. Stakeholder communication also plays a central role, as disclosure and transparency strengthen the trust of investors, business partners and the public.
Opportunities for companies
The requirements of the CSRD and the ESRS are not only a legal obligation, but also offer companies strategic advantages. A proven proactive approach to corruption leads to a gain in reputation, which significantly increases the company's standing with customers and investors. At the same time, a clear governance and compliance structure minimises the risk of legal disputes and sanctions. In addition, transparency and integrity provide companies with decisive competitive advantages, as they are increasingly playing a central role in the awarding of public contracts and the establishment of partnerships.
Conclusion
International Anti-Corruption Day 2024 offers companies the opportunity to step up their anti-corruption efforts and adapt their governance structures to the requirements of the CSRD and the ESRS. Proactive and transparent implementation of the standards not only serves to fulfil legal requirements, but also strengthens trust in the integrity of the company.
Contact and support
We will be at your disposal for further information and support in implementing the requirements. Our ESG team will provide you with comprehensive advice on the new reporting obligations and support you in developing and implementing effective compliance systems.
Further information can be found on our website at ESG-Compliance – Creditreform Compliance Services
Written by Creditreform
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