CSRD: Information on the sustainability of large companies
Verified 22 November 2024 - Directorate for Legal and Administrative Information (Prime Minister)
Large companies must integrate within a separate section of their sustainability information or publish a durability state based on a phased-in implementation schedule that starts in FY2024 for large listed companies and financial institutions. The purpose of this information is to describe the company’s impact on the environment and business, as well as how sustainability issues (environmental, social and governance) affect the company.
What applies to you ?
An obligation to publish sustainability information also applies to large groups. One statement on the obligations of groups of businesses (1re reporting from 2025 or 2026) is also available. Subsidiaries subject to disclosure requirements whose information is included in the durability status of their parent business shall be exempted from individual disclosure if their securities are not admitted to trading on a regulated market.
A fact sheet dedicated to the information obligations regarding the sustainability of listed small and medium-sized companies (SMEs) (1re reporting from 2027 or 2029) is also available.
Unrated French
Businesses concerned
Thresholds
Large companies with a head office in France must include sustainability information within a separate section of their annual report. The large companies are those which, at the end of the financial year, correspond to at least 2 of the 3 criteria for 2 consecutive fiscal years:
- Average number of employees employees in the fiscal year greater than 250
- Balance Sheet greater than EUR 25 million
- Turnover greater than EUR 50 million
This information provides insight into the company’s environmental and business impacts, as well as how sustainability issues affect the evolution of its business, bottom line and situation. Sustainability issues include environmental, social and corporate governance issues.
Relevant business Shapes
The following business shapes the obligation to publish sustainability information may affect:
- Anonymous businesses (SA)
- Limited partnerships (CBS)
- Limited Liability businesses (LLC)
- Simplified share businesses (SAS).
The general partnerships (SNC) and limited partnerships (CBS) are also affected by the obligation to publish sustainability information if all shares are held by persons of one of the following types or by businesses of foreigner law of a comparable legal form:
- Public limited company (SA)
- Limited Partnership (SCA)
- Limited Liability Company (LLC)
- Simplified share business (SAS).
The obligation to publish sustainability information also applies to :
- Credit institutions
- State-controlled insurance companies
- Supplementary occupational pension fund
- insurance group businesses, mixed insurance group businesses
- Mutual societies and unions, mutual societies and supplementary occupational retirement unions, group mutual unions
- Provident institutions and their unions, supplementary occupational retirement provision institutions, social protection insurance group businesses
- Agricultural cooperatives and their unions
- Non-agricultural cooperatives
- Issuers on a regulated EU marketEEE subject to the publication of an annual financial report.
FYI
The obligation to publish sustainability information shall not apply to UCITS: titleContent approved.
You can also check the obligations applicable to your company on CSR Portal :
Verify CSR obligations applicable to its company
Exemptions
The businesses unquoted whose sustainability information is included in the consolidated business which control them are not subject to the obligation to publish sustainability information on an individual basis.
The business management report must then indicate this exemption and mention:
- The name and registered office of the consolidating business
- The link to the website on which the report on the management of the consolidating business group and its certification report are made available.
The consolidating business shall then have the obligation to establish and publish:
- Or, if its registered office is in theEuropean Union or theEuropean Economic Area, a report on the management of the group of that consolidating business, covering the business provided and, if any, the other businesses it controls. This report must be drawn up in accordance with the rules of the State in which the registered office is situated.
- Or, if its head office is in a Member State outside those territories, a consolidated report on the sustainability challenges of the group of that consolidating business, covering the business provided and, if any, the businesses it controls.
Please note
If the report drawn up by the consolidating business does not include the businesses of the group, the latter must then publish a management report including information on sustainability.
Publication of this information will be mandatory from financial year 2025 (1re publication in 2026) for large unlisted companies responding to at least 2 of the following 3 criteria :
- Average number of employees employed in the year above 250
- Balance Sheet Exceeding €25 000 000
- Turnover above €50 000 000
Publication of sustainability information will be mandatory from financial year 2024 (1re publication in 2025) for financial institutions responding to all of the following criteria during 2 consecutive fiscal years:
- Average number of employees employed in the year above 500
- Balance Sheet Exceeding €25 000 000 and/or turnover above €50 000 000
- The financial institutions concerned are:
- Credit institution
- State-controlled insurance company
- Mutual or mutual societies
- Provident institution or union of provident institutions.
Please note
Publication of sustainability information from the financial year 2024 does not apply the following major companies:
- mutual insurance group businesses
- Group mutual unions
- Social protection insurance group businesses
- Agricultural cooperatives and unions of agricultural cooperatives
These companies will be subject to the obligation from the financial year 2025.
General
Sustainability information should be submitted in accordance with the Sustainability Information Standards (ESRS) adopted by the European Commission.
Large companies must apply the 12 ESRS to any sector.
TheAccounting Standards Authority (AA) has published a educational guide for companies popularizing all ESRS across all sectors:
Deploying ESRS: A piloting tool for transition
Accounting Standards Authority (AA)
Pour en savoir plus
Large companies must complete the information required in these 12 ESRS by information specific to their company to address material sustainability issues not covered (or not sufficiently covered) by ESRS, if identified. This specific information (governance, strategy, policies, action plans, targets or indicators) is not standardized, but must meet the criteria set out in ESRS 1 Annex B (qualitative characteristics). The information shall be relevant, accurately represented, comparable, verifiable and understandable.
When the Sectoral ESRS will be available as delegated regulations, companies will have to progressively implement sectoral standards corresponding to their sector of activity as from the financial year 2027. Pending industry standards, entity-specific information will help address material industry challenges.
Ultimately, the major companies will:
- Apply the 12 ESRS to any sector
- Apply applicable industry standards according to their industry
- Complement their reporting with relevant specific information.
FYI
The section dedicated to sustainability information should contain a process description implemented in order to determine the information included.
Information on imminent developments or cases under negotiation may be absent from the report in exceptional cases under the following 2 conditions:
- Their publication would seriously harm the commercial position of the business, the reasoned opinion of the board, the executive board or the manager
- A fair and balanced understanding of the development of the affairs of the business, its performance, its situation and the impact of its activities shall be maintained.
FYI
The CSR Portal provides a free tool that assists the company in the analysis of dual materiality, the collection of company data and the writing of the sustainability status:
By way of derogation, if not all the necessary information on its value chain is available, the business shall explain the efforts made to obtain it, the reasons why not all of it has been obtained and the actions it envisages to obtain it in the future. This derogation shall apply to the first 3 financial years for which the business includes sustainability information in the management report.
Overview of ESRS in all sectors
Typology of standards
The 12 ESRS standards for all sectors are presented in 4 sections. The standards are distinguished:
- Transverse
- Environmental
- Social
- Governance.
Cross-cutting standards
The cross-cutting standards are:
- ESRS 1: General principles
- ESRS 2: General information.
Environmental standards
Environmental standards are:
- ESRS E1: Climate change
- ESRS E2: Pollution
- ESRS E3: Water and marine resources
- ESRS E4: Biodiversity and ecosystems
- ESRS E5: Circular economy.
Social standards
Social norms are:
- ESRS S1: company staff
- ESRS S2: Value chain workers
- ESRS S3: Affected Communities
- ESRS S4: Consumers and end users.
Governance Standard
The governance standard included in any sector ESRS is ESRS G1: Business Conduct.
Please note
More details are available in a european regulation:
More about European Sustainability Information Standards (ESRS)
European Parliament
Pour en savoir plus
Format
Sustainability information should be included in a separate section of the annual report business.
Businesses preparing a management report (including sustainability information) should use the XHTML electronic language.
They will also have to mark up sustainability information prepared in accordance with the CSRD and the EU Environmental Taxonomy using the Single European Electronic Format (ESEF) and deposit it in a Single European Access Point (ESAP).
Consultation of the ESC
During the mandatory consultations, French businesses must question the Social and Economic Committee (ESC) sustainability information and how to obtain and verify it.
Sustainability information must be certified by a auditor or by a independent third party body (ITO)at the choice of the ordinary general meeting of the members.
External auditor
Designation
Apart from the cases of appointment provided for in the Statutes, the auditors shall be appointed by the ordinary general meeting members or by the competent body performing a similar function.
L'yearbook of auditors includes all auditors:
Who shall I contact
For the performance of the tasks of certifying the accounts and certifying sustainability information, the auditor shall be appointed for a six-year term. By way of derogation, the business may decide to limit the term of office to three financial years.
Its duties shall expire after the general meeting or the competent body which decides on the accounts for the last financial year of its mandate has deliberated.
Warning
The proceedings of the ordinary general meeting shall be void in the absence of a regular appointment of auditors or on the report of auditors appointed or held in office improperly.
Where the auditor so appointed is a natural person or a single-person business, one or more alternate auditors shall be appointed under the same conditions. They may be called upon to replace the incumbents in the event of refusal, impeachment, resignation, appointment, delisting or death.
Where the auditor has, during the last two financial years, audited the operations of the business or the businesses it controls to make contributions or merge, the draft resolution designating the entity shall so state.
Summons
The auditors shall be summoned to all :
- Meetings the management board or the executive board and the supervisory board, or the collegiate administrative or management body and the supervisory body which examine or adopt annual or interim accounts and which examine and adopt the report on the sustainability reporting
- Assemblies shareholders or members or at all meetings of the competent body performing a similar function.
Opinion of the auditor
The auditors appointed to verify the sustainability information published by the company shall issue a notice of compliance with regulatory requirements relating to the publication of that information and to the following:
- Compliance of sustainability information with European regulatory requirements, including sustainability information standards
- Compliance with the standards of the process used by the entity to determine the information disclosed and, where the entity is subject to them, compliance with the duty to consult the Social and Economic Committee (ESC)
- Sustainability Information Markup Compliance
- Compliance with disclosure requirements for company transparency in non-financial reporting
This opinion shall be the subject of a certification report to the body responsible for deciding on the accounts.
Sanctions
The following infringements shall be punishable by 2 years imprisonment and €30,000 fine:
- The fact that any head of a business who has an auditor may not call him to any general meeting
- The failure of any director of a business to have its sustainability information certified to appoint an auditor or an independent third party body (ITO).
The following infringements shall be punishable by 5 years imprisonment and €75,000 fine:
- Obstructing the audits or controls of the auditors or experts responsible for reporting on one or more management operations by any officer of a business having an auditor or any other person of that business
- The refusal of any business executive with an external auditor or any other person of that business to provide external auditors or experts with any documents relevant to the performance of their duties, including, in particular, any contracts, books, records and minutes of meetings, on the spot.
Independent Third Party Organization (ITO)
Designation
Apart from cases of statutory appointment, independent third bodies (ITOs) are appointed by the ordinary general meeting members or by the competent body performing a similar function.
Where there is only one auditor of sustainability information in the ITO, at least one ITO or an alternate auditor shall be appointed under the same conditions. The incumbent will be called upon to replace the incumbent in the event of refusal, impeachment, resignation from office, removal from the list or death.
FYI
The ITO appointed must be certified by the French Accreditation Committee (COFRAC).
The independent third party body shall be appointed for a six-year term. By way of derogation, the business may decide to limit the term of office to three financial years.
Opinion of the independent third party body
The independent third party body (ITO) designated to verify the sustainability information published by the company shall issue a opinions on compliance with the regulatory requirements relating to the publication of this information and on the following :
- Compliance of sustainability information with European regulatory requirements, including sustainability information standards
- Compliance with the standards of the process used by the entity to determine the information disclosed and, where the entity is subject to them, compliance with the duty to consult the Social and Economic Committee (ESC)
- Sustainability Information Markup Compliance
- Compliance with disclosure requirements for company transparency in non-financial reporting
This opinion shall be the subject of a certification report to the body deciding on the accounts.
Summons
Independent third-party bodies shall be convened at all meetings the Management Board or the Executive Board and the Supervisory Board.
They shall also be convened at the meetings of the collegiate administrative or management body and the supervisory body which examine or adopt annual or interim accounts and which examine and adopt the report on sustainability reporting.
Sanctions
The following infringements shall be punishable by 2 years imprisonment and €30,000 fine:
- The failure of any head of a business who has appointed an independent third party body (ITO) not to convene it at any general meeting
- The failure of any business executive to have its sustainability information certified to appoint an auditor or ITO.
The following infringements shall be punishable by 5 years imprisonment and €75,000 fine:
- Obstructing audits or controls by auditors of sustainability information or their experts on the part of any manager of a business with an ITO or any other person of that business
- The refusal by any business manager with an ITO or any other person in that business to provide auditors with sustainability information or their experts with on-the-spot access to all documents relevant to the performance of their tasks, including, in particular, any contracts, books, accounting documents and records of minutes.
To learn more about certification of sustainability information, a Frequently Asked Questions was published by the High Audit Authority:
Details on the conditions for the appointment of auditors or ITOs certifying sustainability information
High Audit Authority (H2A)
Pour en savoir plus
Filing of the formalities to be annexed to the SCN and the NNE at the ticket office
Businesses by shares (SA: titleContent, LOCK: titleContent, SCA: titleContent, etc.) and all other commercial businesses (excluding CNS: titleContent, SARL: titleContent) must file the management report at the companies' formalities desk and, where there is one, the report on the management of the group, to be forwarded to the registry of the commercial court and then annexed to the SCR: titleContent and the RNE: titleContent. They must do so within a period ofone month after the approval of the annual accounts or within 2 months of such approval where the application is made by electronic means.
For CNS: titleContent of which all the indefinitely liable members are SARL: titleContent or SA: titleContent and for all SARL: titleContent, the business management report shall not necessarily be forwarded to the Registry but shall be made available to any person who so requests.
Please note
All information entered and documents annexed to the NNE, with the exception of accounting documents covered by a confidentiality statement, shall be made available to the public free of charge and in electronic form.
Transmission to the shareholders' meeting
General provisions
One or more shareholders or members representing at least 5% capital or voting rights may request that a draft resolution requiring an accredited business to prepare a report on certain sustainability information be placed on the agenda of the general meeting. This business may not be linked to the auditor or to the ITO appointed to certify the accounts or business sustainability information. This report shall be made available to the members of this Assembly.
share businesses
In the share businesses, as from the convening of the ordinary annual general meeting and at least during the 15-day period preceding the date of the meeting, the business shall send or make available to the shareholders the report certifying sustainability information. At the request of any shareholder, the business shall make such dispatch prior to the meeting and at its own expense.
In the SA: titleContent, for an uninterrupted period beginning not later than 21 days before the meeting, listed businesses publish on the website the documents to be presented to the assembly. This concerns in particular the opinion of the auditor and sustainability information.
Other businesses
In the CNS: titleContent and SARL: titleContent, the management report, inventory and annual accounts drawn up by the managers are submitted to the shareholders' meeting for approval within six months of the end of a financial year, unless extended by a court decision.
The annual accounts, the annual report and, where there are any, the consolidated accounts and the report on the management of the group shall be held at the head office, available to the auditors at least one month before the meeting is convened.
To this end, those documents, together with the text of the resolutions proposed and, where such documents exist, the report of the auditors, the sustainability information certification report, the consolidated accounts and the report on the management of the group must be communicated to the members at least 15 days before the meeting of the assembly. Any deliberation taken in breach of this obligation may be canceled.
Any partner may put questions in writing which the manager is obliged to answer during the meeting.
Please note
In the SARL: titleContent, if the meeting of members has not been convened within six months of the end of a financial year, the public prosecutor's office or any interested person may refer the matter to the president of the court of first instance for interim measures. The Board may require the managers to convene such a meeting or appoint a representative to do so.
Who shall I contact
Transmission to the ESC
In view of the annual consultation of the Social and Economic Committee (ESC) on the economic and financial situation of the company, the employer shall make available the following documents:
- Management report containing sustainability information
- Report of the auditors
- Sustainability Information Certification Report
Transmission on request to any person
One copy of the management report shall be issued to any person, at his own expense, at the seat of the business on request. The costs of delivery may not exceed the cost of reproduction. The party concerned shall be informed, at the time of his application, of the total amount of the fees to be paid for which prior payment may be required.
Actions in the absence of communication of documents
Any person who has been unable to obtain the production, communication or transmission of sustainability information may to ask the president of the court Acting for interim measures:
- Or to oblige under penalty payment the business competent for producing, communicating or transmitting the documents or information to be communicated
- Or to appoint a representative to make such a communication.
Where the application is granted, the business complained against shall pay the periodic penalty payment and the costs of the proceedings.
French listed
Thresholds
The large companies quoted which have a registered office in France must include sustainability information within a separate section of their annual report. The large companies are those which, at the end of the financial year, correspond to at least 2 of the 3 criteria for 2 consecutive fiscal years:
- Average number of employees employees in the fiscal year greater than 250
- Balance Sheet greater than EUR 25 million
- Turnover greater than EUR 50 million
They are quoted if their securities are admitted to trading on a regulated market.
This information provides insight into the company’s environmental and business impacts, as well as how sustainability issues affect the evolution of its business, bottom line and situation. Sustainability issues include environmental, social and corporate governance issues.
Relevant business Shapes
The following business shapes the obligation to publish sustainability information may affect:
- Anonymous businesses (SA)
- Limited partnerships (CBS)
- Limited Liability businesses (LLC)
- Simplified share businesses (SAS).
The general partnerships (SNC) and limited partnerships (CBS) are also affected by the obligation to publish sustainability information if all shares are held by persons of one of the following types or by businesses of foreigner law of a comparable legal form:
- Public limited company (SA)
- Limited Partnership (SCA)
- Limited Liability Company (LLC)
- Simplified share business (SAS).
The obligation to publish sustainability information also applies to :
- Credit institutions
- State-controlled insurance companies
- Supplementary occupational pension fund
- insurance group businesses, mixed insurance group businesses
- Mutual societies and unions, mutual societies and supplementary occupational retirement unions, group mutual unions
- Provident institutions and their unions, supplementary occupational retirement provision institutions, social protection insurance group businesses
- Agricultural cooperatives and their unions
- Non-agricultural cooperatives
- Issuers on a regulated EU marketEEE subject to the publication of an annual financial report.
FYI
The obligation to publish sustainability information shall not apply to UCITS: titleContent approved.
You can also check the obligations applicable to your company on CSR Portal :
Publication of information on the sustainability of large companies quoted will be mandatory from financial year 2024 (1è publication in 2025) for large companies complying with all of the following criteria during 2 consecutive fiscal years:
- Average number of employees employed in the year above 500
- Balance Sheet Exceeding €25 000 000 and/or turnover above €50 000 000
Publication of this information will be mandatory from financial year 2025 (1è publication in 2026) for all other large companies meeting at least 2 of the following 3 criteria during 2 consecutive fiscal years:
- Average number of employees employed in the year above 250
- Balance Sheet Exceeding €25 000 000
- Turnover above €50 000 000
Please note
Publication of sustainability information from the financial year 2024 does not apply to:
- mutual insurance group businesses
- Group mutual unions
- Social protection insurance group businesses
- Agricultural cooperatives and unions of agricultural cooperatives
These companies will be subject to the obligation from the financial year 2025.
General
Sustainability information should be submitted in accordance with the Sustainability Information Standards (ESRS) adopted by the European Commission.
Large companies must apply the 12 ESRS to any sector.
TheAccounting Standards Authority (AA) has published a educational guide for companies popularizing all ESRS across all sectors:
Deploying ESRS: A piloting tool for transition
Accounting Standards Authority (AA)
Pour en savoir plus
Large companies must complete the information required in these 12 ESRS by information specific to their company to address material sustainability issues not covered (or not sufficiently covered) by ESRS, if identified. This specific information (governance, strategy, policies, action plans, targets or indicators) is not standardized, but must meet the criteria set out in ESRS 1 Annex B (qualitative characteristics). The information shall be relevant, accurately represented, comparable, verifiable and understandable.
When the Sectoral ESRS will be available as delegated regulations, companies will have to progressively implement sectoral standards corresponding to their sector of activity as from the financial year 2027. Pending industry standards, entity-specific information will help address material industry challenges.
Ultimately, the major companies will:
- Apply the 12 ESRS to any sector
- Apply applicable industry standards according to their industry
- Complement their reporting with relevant specific information.
FYI
The section dedicated to sustainability information should contain a process description implemented in order to determine the information included.
Information on imminent developments or cases under negotiation may be absent from the report in exceptional cases under the following 2 conditions:
- Their publication would seriously harm the commercial position of the business, the reasoned opinion of the board, the executive board or the manager
- A fair and balanced understanding of the development of the affairs of the business, its performance, its situation and the impact of its activities shall be maintained.
FYI
The CSR Portal provides a free tool that assists the company in the analysis of dual materiality, the collection of company data and the writing of the sustainability status:
By way of derogation, if not all the necessary information on its value chain is available, the business shall explain the efforts made to obtain it, the reasons why not all of it has been obtained and the actions it envisages to obtain it in the future. This derogation shall apply to the first 3 financial years for which the business includes sustainability information in the management report.
Overview of ESRS in all sectors
Typology of standards
The 12 ESRS standards for all sectors are presented in 4 sections. The standards are distinguished:
- Transverse
- Environmental
- Social
- Governance.
Cross-cutting standards
The cross-cutting standards are:
- ESRS 1: General principles
- ESRS 2: General information.
Environmental standards
Environmental standards are:
- ESRS E1: Climate change
- ESRS E2: Pollution
- ESRS E3: Water and marine resources
- ESRS E4: Biodiversity and ecosystems
- ESRS E5: Circular economy.
Social standards
Social norms are:
- ESRS S1: company staff
- ESRS S2: Value chain workers
- ESRS S3: Affected Communities
- ESRS S4: Consumers and end users.
Governance Standard
The governance standard included in any sector ESRS is ESRS G1: Business Conduct.
Please note
More details are available in a european regulation:
More about European Sustainability Information Standards (ESRS)
European Parliament
Pour en savoir plus
Format
Sustainability information should be included in a separate section of the annual report business.
Businesses preparing a management report (including sustainability information) should use the XHTML electronic language.
They will also have to mark up sustainability information prepared in accordance with the CSRD and the EU Environmental Taxonomy using the Single European Electronic Format (ESEF) and deposit it in a Single European Access Point (ESAP).
Consultation of the ESC
During the mandatory consultations, French businesses must question the Social and Economic Committee (ESC) sustainability information and how to obtain and verify it.
Sustainability information must be certified by a auditor or by a independent third party body (ITO)at the choice of the ordinary general meeting of the members.
External auditor
Designation
Apart from the cases of appointment provided for in the Statutes, the auditors shall be appointed by the ordinary general meeting members or by the competent body performing a similar function.
L'yearbook of auditors includes all auditors:
Who shall I contact
For the performance of the tasks of certifying the accounts and certifying sustainability information, the auditor shall be appointed for a six-year term. By way of derogation, the business may decide to limit the term of office to three financial years.
Its duties shall expire after the general meeting or the competent body which decides on the accounts for the last financial year of its mandate has deliberated.
Warning
The proceedings of the ordinary general meeting shall be void in the absence of a regular appointment of auditors or on the report of auditors appointed or held in office improperly.
Where the auditor so appointed is a natural person or a single-person business, one or more alternate auditors shall be appointed under the same conditions. They may be called upon to replace the incumbents in the event of refusal, impeachment, resignation, appointment, delisting or death.
Where the auditor has, during the last two financial years, audited the operations of the business or the businesses it controls to make contributions or merge, the draft resolution designating the entity shall so state.
Summons
The auditors shall be summoned to all :
- Meetings the management board or the executive board and the supervisory board, or the collegiate administrative or management body and the supervisory body which examine or adopt annual or interim accounts and which examine and adopt the report on the sustainability reporting
- Assemblies shareholders or members or at all meetings of the competent body performing a similar function.
Opinion of the auditor
The auditors appointed to verify the sustainability information published by the company shall issue a notice of compliance with regulatory requirements relating to the publication of that information and to the following:
- Compliance of sustainability information with European regulatory requirements, including sustainability information standards
- Compliance with the standards of the process used by the entity to determine the information disclosed and, where the entity is subject to them, compliance with the duty to consult the Social and Economic Committee (ESC)
- Sustainability Information Markup Compliance
- Compliance with disclosure requirements for company transparency in non-financial reporting
This opinion shall be the subject of a certification report to the body responsible for deciding on the accounts.
Sanctions
The following infringements shall be punishable by 2 years imprisonment and €30,000 fine:
- The fact that any head of a business who has an auditor may not call him to any general meeting
- The failure of any director of a business to have its sustainability information certified to appoint an auditor or an independent third party body (ITO).
The following infringements shall be punishable by 5 years imprisonment and €75,000 fine:
- Obstructing the audits or controls of the auditors or experts responsible for reporting on one or more management operations by any officer of a business having an auditor or any other person of that business
- The refusal of any business executive with an external auditor or any other person of that business to provide external auditors or experts with any documents relevant to the performance of their duties, including, in particular, any contracts, books, records and minutes of meetings, on the spot.
Independent Third Party Organization (ITO)
Designation
Apart from cases of statutory appointment, independent third bodies (ITOs) are appointed by the ordinary general meeting members or by the competent body performing a similar function.
Where there is only one auditor of sustainability information in the ITO, at least one ITO or an alternate auditor shall be appointed under the same conditions. The incumbent will be called upon to replace the incumbent in the event of refusal, impeachment, resignation from office, removal from the list or death.
FYI
The ITO appointed must be certified by the French Accreditation Committee (COFRAC).
The independent third party body shall be appointed for a six-year term. By way of derogation, the business may decide to limit the term of office to three financial years.
Opinion of the independent third party body
The independent third party body (ITO) designated to verify the sustainability information published by the company shall issue a opinions on compliance with the regulatory requirements relating to the publication of this information and on the following :
- Compliance of sustainability information with European regulatory requirements, including sustainability information standards
- Compliance with the standards of the process used by the entity to determine the information disclosed and, where the entity is subject to them, compliance with the duty to consult the Social and Economic Committee (ESC)
- Sustainability Information Markup Compliance
- Compliance with disclosure requirements for company transparency in non-financial reporting
This opinion shall be the subject of a certification report to the body deciding on the accounts.
Summons
Independent third-party bodies shall be convened at all meetings the Management Board or the Executive Board and the Supervisory Board.
They shall also be convened at the meetings of the collegiate administrative or management body and the supervisory body which examine or adopt annual or interim accounts and which examine and adopt the report on sustainability reporting.
Sanctions
The following infringements shall be punishable by 2 years imprisonment and €30,000 fine:
- The failure of any head of a business who has appointed an independent third party body (ITO) not to convene it at any general meeting
- The failure of any business executive to have its sustainability information certified to appoint an auditor or ITO.
The following infringements shall be punishable by 5 years imprisonment and €75,000 fine:
- Obstructing audits or controls by auditors of sustainability information or their experts on the part of any manager of a business with an ITO or any other person of that business
- The refusal by any business manager with an ITO or any other person in that business to provide auditors with sustainability information or their experts with on-the-spot access to all documents relevant to the performance of their tasks, including, in particular, any contracts, books, accounting documents and records of minutes.
To learn more about certification of sustainability information, a Frequently Asked Questions was published by the High Audit Authority:
Details on the conditions for the appointment of auditors or ITOs certifying sustainability information
High Audit Authority (H2A)
Pour en savoir plus
Deposit with the Autorité des marchés financiers
French businesses listed on a regulated market of a State of theEuropean Economic Area (EEA) publish and file with the Autorité des marchés financiers one annual financial report in the 4 months after the end of their financial year.
This annual financial report is available to the public for 10 years. It includes the following:
- Annual accounts and, where applicable, the consolidated accounts
- Management Report and, where there is one, the report on the management of the group
- Report on company Government
- Declaration by which the natural persons who are responsible for the annual financial report certify that, to the best of their knowledge, the elements which make up that report are drawn up in accordance with the rules in force
- Report by the auditors or auditors of third States on the annual accounts and, if any, on the consolidated accounts
- Sustainability information certification report.
Who shall I contact
Filing of the formalities to be annexed to the SCN and the NNE at the ticket office
Businesses by shares (SA: titleContent, SCA: titleContent, etc.) shall file the management report at the companies' formalities desk and, where there is one, the report on the management of the group, to be forwarded to the registry of the commercial court and then annexed to the SCR: titleContent and the RNE: titleContent. They must do so within a period ofone month after the approval of the annual accounts or within 2 months of such approval where the application is made by electronic means.
Please note
All information entered and documents annexed to the NNE, with the exception of accounting documents covered by a confidentiality statement, shall be made available to the public free of charge and in electronic form.
Transmission to the shareholders' meeting
One or more shareholders or members representing at least 5% capital or voting rights may request that a draft resolution requiring an accredited business to prepare a report on certain sustainability information be placed on the agenda of the general meeting. This business may not be linked to the auditor or to the ITO appointed to certify the accounts or business sustainability information. This report shall be made available to the members of this Assembly.
In the share businesses, as from the convening of the ordinary annual general meeting and at least during the 15-day period preceding the date of the meeting, the business shall send or make available to the shareholders the report certifying sustainability information. At the request of any shareholder, the business shall make such dispatch prior to the meeting and at its own expense.
In the SA: titleContent, for an uninterrupted period beginning not later than 21 days before the meeting, listed businesses publish on the website the documents to be presented to the assembly. This concerns in particular the opinion of the auditor and sustainability information.
Transmission to the ESC
In view of the annual consultation of the Social and Economic Committee (ESC) on the economic and financial situation of the company, the employer shall make available the following documents:
- Management report containing sustainability information
- Report of the auditors
- Sustainability Information Certification Report
Transmission on request to any person
One copy of the management report shall be issued to any person, at his own expense, at the seat of the business on request. The costs of delivery may not exceed the cost of reproduction. The party concerned shall be informed, at the time of his application, of the total amount of the fees to be paid for which prior payment may be required.
Actions in the absence of communication of documents
Any person who has been unable to obtain the production, communication or transmission of sustainability information may to ask the president of the court Acting in interlocutory :
- Or to oblige under penalty payment the business competent for producing, communicating or transmitting the documents or information to be communicated
- Or to appoint a representative to make such a communication.
Where the application is granted, the business complained against shall pay the periodic penalty payment and the costs of the proceedings.
EU/EEA (excluding France)
This is the case for large companies of which the seat is not in France but is located in another State of theEuropean Union or theEuropean Economic Area.
FYI
The large companies are those that correspond to at least 2 of the 3 criteria for 2 consecutive fiscal years:
- Average number of employees employees in the fiscal year greater than 250
- Balance Sheet greater than EUR 25 million
- Turnover greater than EUR 50 million
The publication of sustainability information should be made to the State administration in which the business has its registered office and in accordance with the rules of that State.
Not listed in France of a third country
This applies to companies that are not listed on a regulated EU marketEU or theEEE. Companies listed on one of these markets outside France must publish sustainability information to the State administration in which they are quoted.
The businesses concerned by this situation are those who, during 2 consecutive financial years:
- Have no registered office in a Member State of theEU (EU) or theEuropean Economic Area (EEA)
- Have at least one branch office in France whose net turnover exceeds the balance sheet date of the financial year, EUR 40 million
- Have a legal form comparable to share businesses (LOCK: titleContent, SA: titleContent, SCA: titleContent, etc.) and businesses with limited liability (SARL: titleContent)
- Account for a EEA net turnover which exceeds the closing date of the last 2 consecutive financial years, EUR 150 million
- Do not control or are controlled by another business.
These businesses must publish a report on sustainability issues, under the responsibility of the legal representative of the business in France.
This information provides insight into the company’s environmental and business impacts, as well as how sustainability issues affect the evolution of its business, bottom line and situation. Sustainability issues include environmental, social and corporate governance issues.
The publication of a sustainability report will be mandatory from financial year 2028 (1è publication in 2029).
Sustainability information should be submitted in accordance with the Sustainability Information Standards (ESRS) adopted by the European Commission.
FYI
ESRS for non-European companies are under development. The European Commission shall draw on the work and technical advice of theEFRAG (European Financial Reporting Advisory Group) These draft standards shall be the subject of public consultations prior to transmission to the European Commission.
Information not available
Where the durability status or information is not available, the business' legal representative in France requests the information necessary for its business and establishes and publishes the sustainability status.
If the business does not provide all of this information, its legal representative in France shall establish the sustainability status and include in the sustainability status all the information in its possession, together with a statement that the business concerned has not made the required information available to it.
Where the business does not provide the durability status containing the opinion on the conformity of the information, its legal representative in France shall produce a declaration indicating this.
Format
The sustainability status shall be published in the XHTML electronic language.
Sustainability information should be prepared in accordance with the CSRD and the EU Environmental Taxonomy, using the Single European Electronic Format (ESEF), and deposited in a Single European Access Point (ESAP).
Consultation of the ESC
During the mandatory consultations, businesses with an establishment in France must ask the Social and Economic Committee (ESC) sustainability information and how to obtain and verify it. This also applies to information published at the business group level.
Sustainability information must be certified by a auditor or by a independent third party body (ITO)at the choice of the ordinary general meeting of the members.
External auditor
Designation
Apart from the cases of appointment provided for in the Statutes, the auditors shall be appointed by the ordinary general meeting members or by the competent body performing a similar function.
L'yearbook of auditors includes all auditors:
Who shall I contact
For the performance of the tasks of certifying the accounts and certifying sustainability information, the auditor shall be appointed for a six-year term. By way of derogation, the business may decide to limit the term of office to three financial years.
Its duties shall expire after the general meeting or the competent body which decides on the accounts for the last financial year of its mandate has deliberated.
Warning
The proceedings of the ordinary general meeting shall be void in the absence of a regular appointment of auditors or on the report of auditors appointed or held in office improperly.
Where the auditor so appointed is a natural person or a single-person business, one or more alternate auditors shall be appointed under the same conditions. They may be called upon to replace the incumbents in the event of refusal, impeachment, resignation, appointment, delisting or death.
Where the auditor has, during the last two financial years, audited the operations of the business or the businesses it controls to make contributions or merge, the draft resolution designating the entity shall so state.
Summons
The auditors shall be summoned to all :
- Meetings the management board or the executive board and the supervisory board, or the collegiate administrative or management body and the supervisory body which examine or adopt annual or interim accounts and which examine and adopt the report on the sustainability reporting
- Assemblies shareholders or members or at all meetings of the competent body performing a similar function.
Opinion of the auditor
The auditors appointed to verify the sustainability information published by the company shall issue a notice of compliance with regulatory requirements relating to the publication of that information and to the following:
- Compliance of sustainability information with European regulatory requirements, including sustainability information standards
- Compliance with the standards of the process used by the entity to determine the information disclosed and, where the entity is subject to them, compliance with the duty to consult the Social and Economic Committee (ESC)
- Sustainability Information Markup Compliance
- Compliance with disclosure requirements for company transparency in non-financial reporting
This opinion shall be the subject of a certification report to the body responsible for deciding on the accounts.
Sanctions
The following infringements shall be punishable by 2 years imprisonment and €30,000 fine:
- The fact that any head of a business who has an auditor may not call him to any general meeting
- The failure of any director of a business to have its sustainability information certified to appoint an auditor or an independent third party body (ITO).
The following infringements shall be punishable by 5 years imprisonment and €75,000 fine:
- Obstructing the audits or controls of the auditors or experts responsible for reporting on one or more management operations by any officer of a business having an auditor or any other person of that business
- The refusal of any business executive with an external auditor or any other person of that business to provide external auditors or experts with any documents relevant to the performance of their duties, including, in particular, any contracts, books, records and minutes of meetings, on the spot.
Independent Third Party Organization (ITO)
Designation
Apart from cases of statutory appointment, independent third bodies (ITOs) are appointed by the ordinary general meeting members or by the competent body performing a similar function.
Where there is only one auditor of sustainability information in the ITO, at least one ITO or an alternate auditor shall be appointed under the same conditions. The incumbent will be called upon to replace the incumbent in the event of refusal, impeachment, resignation from office, removal from the list or death.
FYI
The ITO appointed must be certified by the French Accreditation Committee (COFRAC).
The independent third party body shall be appointed for a six-year term. By way of derogation, the business may decide to limit the term of office to three financial years.
Opinion of the independent third party body
The independent third party body (ITO) designated to verify the sustainability information published by the company shall issue a opinions on compliance with the regulatory requirements relating to the publication of this information and on the following :
- Compliance of sustainability information with European regulatory requirements, including sustainability information standards
- Compliance with the standards of the process used by the entity to determine the information disclosed and, where the entity is subject to them, compliance with the duty to consult the Social and Economic Committee (ESC)
- Sustainability Information Markup Compliance
- Compliance with disclosure requirements for company transparency in non-financial reporting
This opinion shall be the subject of a certification report to the body deciding on the accounts.
Summons
Independent third-party bodies shall be convened at all meetings the Management Board or the Executive Board and the Supervisory Board.
They shall also be convened at the meetings of the collegiate administrative or management body and the supervisory body which examine or adopt annual or interim accounts and which examine and adopt the report on sustainability reporting.
Sanctions
The following infringements shall be punishable by 2 years imprisonment and €30,000 fine:
- The failure of any head of a business who has appointed an independent third party body (ITO) not to convene it at any general meeting
- The failure of any business executive to have its sustainability information certified to appoint an auditor or ITO.
The following infringements shall be punishable by 5 years imprisonment and €75,000 fine:
- Obstructing audits or controls by auditors of sustainability information or their experts on the part of any manager of a business with an ITO or any other person of that business
- The refusal by any business manager with an ITO or any other person in that business to provide auditors with sustainability information or their experts with on-the-spot access to all documents relevant to the performance of their tasks, including, in particular, any contracts, books, accounting documents and records of minutes.
To learn more about certification of sustainability information, a Frequently Asked Questions was published by the High Audit Authority:
Details on the conditions for the appointment of auditors or ITOs certifying sustainability information
High Audit Authority (H2A)
Pour en savoir plus
SNS and NNE Annex Filing
The status of sustainability issues, as well as the report containing the opinion on the compliance of this information or the statement indicating its absence, are lodged at the Registry of the Commercial Court, through the companies' formalities window, to be annexed to the SCR: titleContent and the RNE: titleContent, in a 12-month period from the end of the financial year. If necessary, these documents must be translated into French and certified as compliant.
Please note
All information entered and documents annexed to the national register of companies, with the exception of accounting documents covered by a confidentiality declaration, shall be made available to the public free of charge and in electronic format
Transmission to the ESC
In view of the annual consultation of the Social and Economic Committee (ESC) on the economic and financial situation of the company, the employer shall make available the following documents:
- Management report containing sustainability information
- Report of the auditors
- Sustainability Information Certification Report
Actions in the absence of communication of documents
Any person who has been unable to obtain the production, communication or transmission of sustainability information may to ask the president of the court Acting in interlocutory :
- Or to oblige under penalty payment the business competent for producing, communicating or transmitting the documents or information to be communicated
- Or to appoint a representative to make such a communication.
Where the application is granted, the business complained against shall pay the periodic penalty payment and the costs of the proceedings.
Listed in France from third countries or the EEA
Thresholds
The businesses concerned by this situation are those who, during 2 consecutive financial years:
- Are large companies corresponding to at least 2 of the 3 criteria following:
- Average number of employees employees in the fiscal year greater than 250
- Balance Sheet greater than EUR 25 million
- Turnover greater than EUR 50 million
- Are quoted in France: their securities are admitted to trading on a regulated market French.
- Corresponding toone of the situations following:
- They have a head office outside France and have securities giving access to capital, debt securities giving the right to acquire or sell any other security or giving rise to a cash settlement (warrants or debt securities of nominal value equal to or greater than €1,000 and which are not money market instruments) with a maturity of less than 12 months, which are admitted to trading on a regulated market of a State party to the Agreement onEuropean Economic Area (EEA)
- They have a head office outside the EEA and have equity securities, or debt securities with a nominal value of less than €1,000 and which are not money market instruments with a maturity of less than 12 months.
They must include sustainability information within a separate section of their annual report. This management report is part of the documents constituting the annual financial report to be forwarded by business to the Autorité des marchés financiers (AMF).
This information provides insight into the company’s environmental and business impacts, as well as how sustainability issues affect the evolution of its business, bottom line and situation. Sustainability issues include environmental, social and corporate governance issues.
Relevant business Shapes
The following business shapes the obligation to publish sustainability information may affect:
- Anonymous businesses (SA)
- Limited partnerships (CBS)
- Limited Liability businesses (LLC)
- Simplified share businesses (SAS).
The general partnerships (SNC) and limited partnerships (CBS) are also affected by the obligation to publish sustainability information if all shares are held by persons of one of the following types or by businesses of foreigner law of a comparable legal form:
- Public limited company (SA)
- Limited Partnership (SCA)
- Limited Liability Company (LLC)
- Simplified share business (SAS).
The obligation to publish sustainability information also applies to :
- Credit institutions
- State-controlled insurance companies
- Supplementary occupational pension fund
- insurance group businesses, mixed insurance group businesses
- Mutual societies and unions, mutual societies and supplementary occupational retirement unions, group mutual unions
- Provident institutions and their unions, supplementary occupational retirement provision institutions, social protection insurance group businesses
- Agricultural cooperatives and their unions
- Non-agricultural cooperatives
- Issuers on a regulated EU marketEEE subject to the publication of an annual financial report.
FYI
The obligation to publish sustainability information shall not apply to UCITS: titleContent approved.
You can also check the obligations applicable to your company on CSR Portal :
Publication of information on the sustainability of large companies quoted will be mandatory from financial year 2024 (1è publication in 2025) for large companies complying with all of the following criteria during 2 consecutive fiscal years:
- Average number of employees employed in the year above 500
- Balance Sheet Exceeding €25 000 000 and/or turnover above €50 000 000
Publication of this information will be mandatory from financial year 2025 (1re publication in 2026) for all other large companies meeting at least 2 of the following 3 criteria during 2 consecutive fiscal years:
- Average number of employees employed in the year above 250
- Balance Sheet Exceeding €25 000 000
- Turnover above €50 000 000
Please note
Publication of sustainability information from the financial year 2024 does not apply the following structures:
- mutual insurance group businesses
- Group mutual unions
- Social protection insurance group businesses
- Agricultural cooperatives and unions of agricultural cooperatives
These companies will be subject to the obligation from the financial year 2025.
General
Sustainability information should be submitted in accordance with the Sustainability Information Standards (ESRS) adopted by the European Commission.
Large companies must apply the 12 ESRS to any sector.
TheAccounting Standards Authority (AA) has published a educational guide for companies popularizing all ESRS across all sectors:
Deploying ESRS: A piloting tool for transition
Accounting Standards Authority (AA)
Pour en savoir plus
Large companies must complete the information required in these 12 ESRS by information specific to their company to address material sustainability issues not covered (or not sufficiently covered) by ESRS, if identified. This specific information (governance, strategy, policies, action plans, targets or indicators) is not standardized, but must meet the criteria set out in ESRS 1 Annex B (qualitative characteristics). The information shall be relevant, accurately represented, comparable, verifiable and understandable.
When the Sectoral ESRS will be available as delegated regulations, companies will have to progressively implement sectoral standards corresponding to their sector of activity as from the financial year 2027. Pending industry standards, entity-specific information will help address material industry challenges.
Ultimately, the major companies will:
- Apply the 12 ESRS to any sector
- Apply applicable industry standards according to their industry
- Complement their reporting with relevant specific information.
FYI
The section dedicated to sustainability information should contain a process description implemented in order to determine the information included.
Information on imminent developments or cases under negotiation may be absent from the report in exceptional cases under the following 2 conditions:
- Their publication would seriously harm the commercial position of the business, the reasoned opinion of the board, the executive board or the manager
- A fair and balanced understanding of the development of the affairs of the business, its performance, its situation and the impact of its activities shall be maintained.
FYI
The CSR Portal provides a free tool that assists the company in the analysis of dual materiality, the collection of company data and the writing of the sustainability status:
By way of derogation, if not all the necessary information on its value chain is available, the business shall explain the efforts made to obtain it, the reasons why not all of it has been obtained and the actions it envisages to obtain it in the future. This derogation shall apply to the first 3 financial years for which the business includes sustainability information in the management report.
Overview of ESRS in all sectors
Typology of standards
The 12 ESRS standards for all sectors are presented in 4 sections. The standards are distinguished:
- Transverse
- Environmental
- Social
- Governance.
Cross-cutting standards
The cross-cutting standards are:
- ESRS 1: General principles
- ESRS 2: General information.
Environmental standards
Environmental standards are:
- ESRS E1: Climate change
- ESRS E2: Pollution
- ESRS E3: Water and marine resources
- ESRS E4: Biodiversity and ecosystems
- ESRS E5: Circular economy.
Social standards
Social norms are:
- ESRS S1: company staff
- ESRS S2: Value chain workers
- ESRS S3: Affected Communities
- ESRS S4: Consumers and end users.
Governance Standard
The governance standard included in any sector ESRS is ESRS G1: Business Conduct.
Please note
More details are available in a european regulation:
More about European Sustainability Information Standards (ESRS)
European Parliament
Pour en savoir plus
Format
Sustainability information should be included in a separate section of the annual report business.
Businesses preparing a management report (including sustainability information) should use the XHTML electronic language.
They will also have to mark up sustainability information prepared in accordance with the CSRD and the EU Environmental Taxonomy using the Single European Electronic Format (ESEF) and deposit it in a Single European Access Point (ESAP).
Consultation of the ESC
During the mandatory consultations, businesses with an establishment in France must ask the Social and Economic Committee (ESC) sustainability information and how to obtain and verify it. This also applies to information published at the business group level.
Sustainability information must be certified by a auditor or by a independent third party body (ITO)at the choice of the ordinary general meeting of the members.
External auditor
Designation
Apart from the cases of appointment provided for in the Statutes, the auditors shall be appointed by the ordinary general meeting members or by the competent body performing a similar function.
L'yearbook of auditors includes all auditors:
Who shall I contact
For the performance of the tasks of certifying the accounts and certifying sustainability information, the auditor shall be appointed for a six-year term. By way of derogation, the business may decide to limit the term of office to three financial years.
Its duties shall expire after the general meeting or the competent body which decides on the accounts for the last financial year of its mandate has deliberated.
Warning
The proceedings of the ordinary general meeting shall be void in the absence of a regular appointment of auditors or on the report of auditors appointed or held in office improperly.
Where the auditor so appointed is a natural person or a single-person business, one or more alternate auditors shall be appointed under the same conditions. They may be called upon to replace the incumbents in the event of refusal, impeachment, resignation, appointment, delisting or death.
Where the auditor has, during the last two financial years, audited the operations of the business or the businesses it controls to make contributions or merge, the draft resolution designating the entity shall so state.
Summons
The auditors shall be summoned to all :
- Meetings the management board or the executive board and the supervisory board, or the collegiate administrative or management body and the supervisory body which examine or adopt annual or interim accounts and which examine and adopt the report on the sustainability reporting
- Assemblies shareholders or members or at all meetings of the competent body performing a similar function.
Opinion of the auditor
The auditors appointed to verify the sustainability information published by the company shall issue a notice of compliance with regulatory requirements relating to the publication of that information and to the following:
- Compliance of sustainability information with European regulatory requirements, including sustainability information standards
- Compliance with the standards of the process used by the entity to determine the information disclosed and, where the entity is subject to them, compliance with the duty to consult the Social and Economic Committee (ESC)
- Sustainability Information Markup Compliance
- Compliance with disclosure requirements for company transparency in non-financial reporting
This opinion shall be the subject of a certification report to the body responsible for deciding on the accounts.
Sanctions
The following infringements shall be punishable by 2 years imprisonment and €30,000 fine:
- The fact that any head of a business who has an auditor may not call him to any general meeting
- The failure of any director of a business to have its sustainability information certified to appoint an auditor or an independent third party body (ITO).
The following infringements shall be punishable by 5 years imprisonment and €75,000 fine:
- Obstructing the audits or controls of the auditors or experts responsible for reporting on one or more management operations by any officer of a business having an auditor or any other person of that business
- The refusal of any business executive with an external auditor or any other person of that business to provide external auditors or experts with any documents relevant to the performance of their duties, including, in particular, any contracts, books, records and minutes of meetings, on the spot.
Independent Third Party Organization (ITO)
Designation
Apart from cases of statutory appointment, independent third bodies (ITOs) are appointed by the ordinary general meeting members or by the competent body performing a similar function.
Where there is only one auditor of sustainability information in the ITO, at least one ITO or an alternate auditor shall be appointed under the same conditions. The incumbent will be called upon to replace the incumbent in the event of refusal, impeachment, resignation from office, removal from the list or death.
FYI
The ITO appointed must be certified by the French Accreditation Committee (COFRAC).
The independent third party body shall be appointed for a six-year term. By way of derogation, the business may decide to limit the term of office to three financial years.
Opinion of the independent third party body
The independent third party body (ITO) designated to verify the sustainability information published by the company shall issue a opinions on compliance with the regulatory requirements relating to the publication of this information and on the following :
- Compliance of sustainability information with European regulatory requirements, including sustainability information standards
- Compliance with the standards of the process used by the entity to determine the information disclosed and, where the entity is subject to them, compliance with the duty to consult the Social and Economic Committee (ESC)
- Sustainability Information Markup Compliance
- Compliance with disclosure requirements for company transparency in non-financial reporting
This opinion shall be the subject of a certification report to the body deciding on the accounts.
Summons
Independent third-party bodies shall be convened at all meetings the Management Board or the Executive Board and the Supervisory Board.
They shall also be convened at the meetings of the collegiate administrative or management body and the supervisory body which examine or adopt annual or interim accounts and which examine and adopt the report on sustainability reporting.
Sanctions
The following infringements shall be punishable by 2 years imprisonment and €30,000 fine:
- The failure of any head of a business who has appointed an independent third party body (ITO) not to convene it at any general meeting
- The failure of any business executive to have its sustainability information certified to appoint an auditor or ITO.
The following infringements shall be punishable by 5 years imprisonment and €75,000 fine:
- Obstructing audits or controls by auditors of sustainability information or their experts on the part of any manager of a business with an ITO or any other person of that business
- The refusal by any business manager with an ITO or any other person in that business to provide auditors with sustainability information or their experts with on-the-spot access to all documents relevant to the performance of their tasks, including, in particular, any contracts, books, accounting documents and records of minutes.
To learn more about certification of sustainability information, a Frequently Asked Questions was published by the High Audit Authority:
Details on the conditions for the appointment of auditors or ITOs certifying sustainability information
High Audit Authority (H2A)
Pour en savoir plus
Deposit with the Autorité des marchés financiers
Businesses listed on a regulated market French publish and file with the Autorité des marchés financiers one annual financial report in the 4 months after the end of their financial year.
This annual financial report is available to the public for 10 years. It includes the following:
- Annual accounts and, where applicable, the consolidated accounts
- Management Report and, where there is one, the report on the management of the group
- Report on company Government
- Declaration by which the natural persons who are responsible for the annual financial report certify that, to the best of their knowledge, the elements which make up that report are drawn up in accordance with the rules in force
- Report by the auditors or auditors of third States on the annual accounts and, if any, on the consolidated accounts
- Sustainability information certification report.
Who shall I contact
Filing of the formalities to be annexed to the SCN and the NNE at the ticket office
Businesses by shares (SA: titleContent, SCA: titleContent, etc.) shall file the management report at the companies' formalities desk and, where there is one, the report on the management of the group, to be forwarded to the registry of the commercial court and then annexed to the SCR: titleContent and the RNE: titleContent. They must do so within a period ofone month after the approval of the annual accounts or within 2 months of such approval where the application is made by electronic means.
Please note
All information entered and documents annexed to the NNE, with the exception of accounting documents covered by a confidentiality statement, shall be made available to the public free of charge and in electronic form.
Transmission to the shareholders' meeting
One or more shareholders or members representing at least 5% capital or voting rights may request that a draft resolution requiring an accredited business to prepare a report on certain sustainability information be placed on the agenda of the general meeting. This business may not be linked to the auditor or to the ITO appointed to certify the accounts or business sustainability information. This report shall be made available to the members of this Assembly.
In the share businesses, as from the convening of the ordinary annual general meeting and at least during the 15-day period preceding the date of the meeting, the business shall send or make available to the shareholders the report certifying sustainability information. At the request of any shareholder, the business shall make such dispatch prior to the meeting and at its own expense.
In the SA: titleContent, for an uninterrupted period beginning not later than 21 days before the meeting, listed businesses publish on the website the documents to be presented to the assembly. This concerns in particular the opinion of the auditor and sustainability information.
Transmission to the ESC
In view of the annual consultation of the Social and Economic Committee (ESC) on the economic and financial situation of the company, the employer shall make available the following documents:
- Management report containing sustainability information
- Report of the auditors
- Sustainability Information Certification Report
Transmission on request to any person
One copy of the management report shall be issued to any person, at his own expense, at the seat of the business on request. The costs of delivery may not exceed the cost of reproduction. The party concerned shall be informed, at the time of his application, of the total amount of the fees to be paid for which prior payment may be required.
Actions in the absence of communication of documents
Any person who has been unable to obtain the production, communication or transmission of sustainability information may to ask the president of the court Acting for interim measures:
- Or to oblige under penalty payment the business competent for producing, communicating or transmitting the documents or information to be communicated
- Or to appoint a representative to make such a communication.
Where the application is granted, the business complained against shall pay the periodic penalty payment and the costs of the proceedings.
Who can help me?
The public service accompanying companies
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(Applicable on 1 January 2025) Application to cooperative businesses
Year in which the obligation comes into force, depending on the type of business
Publicity of information transmitted to the NNE
(Applicable as of January 1, 2025) Management Report Submission to Partners
(Applicable on 1 January 2025) Conditions of application of the obligation to partnerships (SNC)
Application of the obligation to limited partnerships (CBS)
(Applicable as of January 1, 2025) Management Report Submission to Partners in LLCs
Size of companies (micro, small, medium, large) and groups
(Applicable on 1 January 2025) General framework for the publication of sustainability information for large companies in France
(Applicable on 1 January 2025) General framework for the publication of sustainability information for large foreign companies (outside the EU/EEA)
(Applicable as of January 1, 2025) Management Reports Filed at the Court Registry
Recourse to access untransmitted information
Provisions concerning auditors
Provisions concerning independent third bodies (ITOs)
Submission of management reports to the Court Registry for commercial businesses
Management reports appended to the National Register of Companies
Publication of certain documents 21 days before the shareholders' meeting
Details on the submission of the annual report to the members
(Applicable on 1 January 2025) Documents made available to shareholders by the business
(Applicable on January 1, 2025) Clarification on the deadline for requesting documents before the shareholders' meeting
Thresholds for company sizes and groups
(Applicable as of 1 January 2025) Details of durability information to be reported, businesses concerned, etc.
Issuance of a copy of the management report to any person requesting it
(Applicable on 1 January 2025) Deposit at the court registry of the state of durability (businesses whose seat is in a third country)
(Applicable on 1 January 2025) Non-application to collective investments
(Applicable on 1 January 2025) Requiring listed businesses to publish an annual financial report containing a management report
(Applicable on 1 January 2025) Application to credit institutions
(Applicable on 1 January 2025) Details regarding the annual financial report of businesses listed in France
(Applicable on 1 January 2025) Application to insurance companies
(Applicable on 1 January 2025) Application to mutual societies
(Applicable on 1 January 2025) Application to pension schemes, supplementary occupational retirement provision schemes and social protection insurance group businesses
(Applicable on 1 January 2025) Application to agricultural cooperatives
(Applicable on 1 January 2025) Consultation of the EESC for the compilation of sustainability information
(Applicable on 1 January 2025) Availability of sustainability information during the annual consultation on the company's economic and financial situation
Derogation for the first 3 financial years subject to the obligation to publish unavailable value chain information
Online service
Online service
Accounting Standards Authority (AA)
Autorité des marchés financiers (AMF)
European Parliament
High Audit Authority (H2A)
Accounting Standards Authority (AA)
European Financial Reporting Advisory Group (EFRAG)
European Financial Reporting Advisory Group (EFRAG)