Sustainability Insights

CSRD Adoption in the Euro Stoxx 50: A Second-Year Assessment

• Transparency
• ESRS
• EURO STOXX 50

The study examines how EURO STOXX 50 companies’ CSRD reports changed from 2024 to 2025. Based on 44 firms with December fiscal year-ends, the analysis provides a second-year view of CSRD reporting practices across some of Europe’s largest listed companies.

The findings show that second-year reports became slightly shorter on average, with page counts down 7% and word counts down 6%. The reductions were concentrated in two ways. First, companies with especially long first-year CSRD reports tended to shorten their reports the most in the second year. Second, the largest content cuts were in governance, cross-cutting, and other content outside the main environmental and social ESRS topics.

At the same time, the changes are not simply about shorter reports. Firms also revised their material Disclosure Requirements, reduced redundant wording, and made greater use of tables and images. This points to a broader process of reporting refinement, as companies adjust the structure, format, and focus of their sustainability statements in the second year of CSRD application.

Restatement-related wording became more common in 2025, especially around E1, S1, and “Other” topics, with many examples linked to updated calculation methods. Compared with DAX 40 firms, EURO STOXX 50 companies showed broader disclosure reductions, more restatement-related wording, and more changes in report structure.

Overall, the findings suggest that companies are moving from first-year CSRD implementation toward more streamlined, selective, and better-organized sustainability reporting.

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