Comparison

CSRD vs SFDR — company report or financial-product disclosure?

CSRD guide SFDR guide

Published Reviewed

CSRD produces company-level sustainability information. SFDR governs sustainability disclosures by financial actors at entity and product level.

Side by side

Dimension CSRD SFDR
Who reports Companies in CSRD scope under accounting law. Financial-market participants and financial advisers.
Unit The reporting undertaking and consolidated group. The financial entity and individual financial product.
Materiality Double materiality under ESRS. Sustainability risks, adverse impacts and product characteristics.
Relationship Can supply data used by investors and lenders. Consumes issuer data but retains its own disclosure responsibility.

How they combine

Do not treat CSRD data as an automatic SFDR answer. A fund manager can use issuer reporting, yet must still classify the product, operate due diligence, and maintain its own disclosures.

A quick self-check

Are you ready?

  • Are issuer data and product claims traceably separated?
  • Can estimates and data gaps be explained?
  • Do marketing claims match formal product disclosures?
CSRD EU rules for standardised corporate sustainability reporting, assurance and digital disclosure. SFDR EU disclosure rules for how financial-market participants and advisers address sustainability risks and impacts.

This comparison is general information about public law and standards, not legal advice, and does not create a client relationship. Rules change and apply differently by situation. Verify the current official sources and seek qualified advice where needed.