Frank Bold news

The European Commission has published its draft Delegated Regulation revising the European Sustainability Reporting Standards (ESRS). The revision follows the Omnibus I Simplification Package and is presented as a burden-reduction measure. Some of it is - but a closer reading reveals a set of changes that go well beyond simplification, departing from EFRAG's technical advice and disregarding formal recommendations from the European Supervisory Authorities. Many of these changes have significant implications for the quality and comparability of sustainability data available to the market and public.

By approaching sustainability strategically, companies can turn corporate reporting into a powerful tool to identify their exposure to climate and social risks in their value chains, future-proof the resilience of their business model and build trust with investors, customers and partners alike.

Brussels, Prague – The European Commission today published the European Grids Package (EGP), a comprehensive set of measures aimed at strengthening energy security and competitiveness across the EU.

After one year of rushed and frenzied political decision-making on the Omnibus 1 package, the EU has come to a decision.

The revised EU Sustainability Reporting Standards have been significantly reduced down to just one-third of the original disclosures.

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Under intense pressure to cut reporting obligations and prioritise deregulation over transparency and safeguards against greenwashing, Europe's leadership in setting sustainability standards is at risk. While the new standards provide a functional framework, their application relies on companies approaching implementation in good faith.

As Europe’s sustainability reporting rules face intense political scrutiny, a new analysis by Frank Bold provides timely evidence that the Corporate Sustainability Reporting Directive (CSRD) is already driving meaningful change in practice.