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Several German ministries led by the Socialist and Green parties have sent a letter to the EU Commission with the objective of rolling back European legislation on corporate sustainability reporting. This legal framework will be applicable to 27 EU Member States as of January 1st, 2025, but German parties, immersed in electoral and political infighting, are using this legislation to promise quick, but dysfunctional solutions.

Alliance
2/12/2024

Industries with high sustainability risks and impacts to get EU sector-specific standards adopted as soon as ready

EU policy-makers agreed last night to postpone by two years the deadline for the adoption of sector-specific standards for companies sustainability reporting, which was initially set in the EU Corporate Sustainability Reporting Directive for June 2024.

Alliance
6/12/2023

Commission’s Proposal Undermines Transparency Rules for Corporate Sustainability Reporting

Last Friday, the European Commission published for public consultation a draft Delegated Act on the first set of European Sustainability Reporting Standards. NGOs, civil society groups and investors associations are very concerned with the significant reduction of the ambition compared to EFRAG’s technical advice and urge the Commission to introduce a robust, mandatory and consistent reporting framework and to not allow greenwashing.

Alliance
4/14/2023

FAQ on the Draft European Sustainability Reporting Standards

Amid current discussions on the shape of the European Sustainability Reporting Standards (ESRS), Frank Bold has developed an FAQ to answer the most important questions around the ESRS.

Alliance
3/7/2023

Civil Society Organisations Urge the European Commission to Adopt an Ambitious Set of Sector-Agnostic Reporting Standards

NGOs and civil society groups will only support an ambitious first set of sector-agnostic ESRS that closely builds on the EFRAG drafts adopted last November. They urge the Commission to follow EFRAG’s technical advice alongside 60+ companies and investors worth 651bn USD, and caution against making significant changes at this stage, as this would risk discrediting the process so far and undoing a good compromise.

Alliance
11/23/2022

EU Commission’s Advisory Group Publishes the First Set of Sustainability Reporting Standards. NGOs Warn Against Reduction in Ambition

Sustainability reporting experts and NGOs welcome the adoption of the EU sustainability reporting standards (ESRS) by EFRAG submitted this week to the European Commission. Whilst the ambition of the ESRS remains limited in several areas, they represent a major improvement for companies as well as for users of sustainability information and address the biggest problems in quality and reliability of corporate reporting.

Alliance
11/9/2022

The EU Parliament Votes to Confirm New Transparency Obligations for Companies on Sustainability and Starts the Clock for Mandatory Reporting

Members of the European Parliament will vote on November 10 to confirm the agreement reached earlier this summer to strengthen companies’ obligations to disclose information on their sustainability risks and impacts, and adopt mandatory EU standards covering Environmental Social and Governance (ESG) matters.