CSRD as a paradigm shift in sustainability reporting : from voluntary practice to legal requirement

This paper discusses the evolution of sustainability reporting from voluntary to mandatory reporting under the European Corporate Sustainability Reporting Directive 2022/2464 (CSRD). The issues addressed are the evolution of sustainability reporting, the theoretical foundations that explain the regulation of this field and the technical issues raised by the implementation of the CSRD. The analysis contextualizes the paradigm shift represented by the CSRD using legitimacy theory, institutional theory and stakeholder theory, while exploring its implications for organizations and professionals. The proposed directions for future research underpin the institutional innovations needed to implement the CSRD and further develop sustainability reporting regulations.