In France, corporate directors can now go to jail for not complying with CSRD
France is the first country to transpose the directive into national law, and has set a high bar in terms of penalties for non-compliance.
France has set a high bar in terms of penalties for non-compliance with the EU Corporate Sustainability Reporting Directive (CSRD), with fines of up to €75,000 and jail time for corporate directors that fail to comply.
CSRD entered into force last year, but its rules officially apply from January 2024, with the first aligned sustainability reports expected to be submitted in early 2025. While the European text of the law provides all necessary details on what information needs to be disclosed by which companies, it leaves non-compliance penalties to individual member states.
