ESG reporting Greece: Stricter requirements under the new law

Greece is tightening the requirements for corporate sustainability reporting. In future, the obligation will also apply to small and medium-sized companies and companies from third countries listed in Greece. The Ecovis experts explain the future regulations for ESG reporting.

The new Greek Law 5164/2024, which is based on EU Directive 2022/2464, aims to increase transparency, comparability and investor confidence.

Key reporting obligations

• Public interest entities: includes state-owned companies, subsidiaries of the Hellenic Corporation of Assets and Participations, investment firms, collective investment organisations, and microfinance institutions
• Third-country entities: subsidiaries and branches in Greece must submit sustainability reports
• Parent companies of large groups: required to submit consolidated reports only

We will discuss with you what data you need for your sustainability report.

Dimitrios Leventakis, Managing Partner, Certified Internal Auditor – IBFD Certified Tax Advisor, ECOVIS HELLAS Ltd., Athens, Greece

Classification criteria

• Small entities: total assets ≤ EUR 5 m, turnover ≤ EUR 10 m, employees ≤ 50
• Medium entities: Total assets ≤ EUR 25 m, turnover ≤ EUR 50 m, employees ≤ 250

Purpose and impact

• Alignment with EU goals: supports the European Green Deal and aims for climate neutrality by 2050
• Investor confidence: enhances the availability of reliable, standardised data, mitigating risks such as greenwashing
• Efficient capital allocation: ensures financial resources are directed toward sustainable activities
• Market integration: reduces information asymmetry and compliance costs across EU jurisdictions

This regulatory enhancement addresses gaps in sustainability reporting, improves risk assessment, and strengthens market transparency to facilitate the EU’s green transition.

For further information please contact:

Dimitrios Leventakis, Managing Partner, Certified Internal Auditor – IBFD Certified Tax Advisor, ECOVIS HELLAS Ltd., Athens, Greece
Email: dimitrios.leventakis@ecovis.com