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Sustainability reporting: New EU rules are changing the corporate world
FAU Erlangen-Nuremberg, one of Germany's largest universities, innovates through sustainability reporting and research.
Sustainability reporting: New EU rules are changing the corporate world
On August 29, 2025, a new person will join the ranks of academic teachers at the Friedrich-Alexander University Erlangen-Nuremberg (FAU). Prof. Dr. Benedict Downar was appointed Professor of Accounting and Auditing. At a time when issues of sustainability and responsible corporate governance are increasingly coming into focus, Downar's expertise will be of great relevance.
FAU is one of the 15 largest and most research-intensive universities in Germany with more than 39,000 students and over 6,000 employees. Downar's research interests focus on theSustainability reportingand the role of the media in disseminating sustainability information. He examines how transparency obligations can encourage companies to address the issue of sustainability more intensively.
Reporting obligations in Germany
The topic of sustainability reporting is also in the context of the new EU directive, the Corporate Sustainability Reporting Directive (CSRD), which will not only significantly expand reporting obligations in Germany. The Federal Ministry for Economic Affairs and Climate Protection reports that the number of companies in Germany subject to reporting requirements will increase from around 500 to almost 15,000.
This directive, which came into force on January 5, 2023, brings far-reaching changes. Most companies must prepare their sustainability reports according to the new European Sustainability Reporting Standards (ESRS). From January 1, 2024, the new requirements will initially apply to public interest companies with more than 500 employees and from 2025 to all large companies.
A central goal of the CSRD is to increase accountability for sustainability aspects, which is to be achieved through the introduction of binding EU standards and external auditing of reporting. The CSR policy portal highlights that reporting now takes into account dual materiality, i.e. both the companies' impact on the environment and vice versa.
Support for businesses and training
In addition, the Federal Ministry of Economics plans to actively support companies in implementing the new requirements. A new version of the German Sustainability Code (DNK) is being developed, which will be available free of charge in a first module on March 11, 2025. This platform will map the legal requirements of CSRD and guide companies through the creation of sustainability reports.
Prof. Dr. Downar, who previously worked at the Georg-August University of Göttingen, has gained several relevant experiences in his academic career, including in the area of sustainability reporting. His studies in management and economics at the Ruhr University Bochum and his habilitation at the Technical University of Munich testify to his sound academic basis.
Downar's desire to travel to different countries and experience other cultures reflects a globally oriented perspective that will be important for his future teaching and research work.
In the coming period he also plans to attend 1. FC Nürnberg games, which expresses his regional ties through his hometown club, VfL Bochum.