Statement on the Transposition of the CSRD Directive and successive amendments to the Spanish Legal System

The CNMV recommends, for Spanish entities in Phase 1 of the CSRD, that they publish the 2025 sustainability report in accordance with the NEIS in order to make the information comparable and also recommends taking into consideration the Delegated Regulation that freezes certain disaggregation requirements during. And with respect to Phase 2 entities (SMEs), it recommends that they assess whether it would be convenient for them to apply the NEIS, or the voluntary reporting standard.