More than 90 organisations representing civil society, business, banks and investor interests, express deep concern over the misrepresentation of EU sustainability reporting as a threat to competitiveness.
Our joint statement, published on 12 December, is a response to the recent omnibus proposal announcement by EU Commission President, Ursula von der Leyen.
The Commission has stated that scaling up sustainable finance is a major priority. Achieving that requires access to consistent and reliable information on businesses’ sustainability performance, enabling better transparency and comparability.
Sustainability reporting is a vital tool for businesses, enabling companies to manage risks, identify opportunities, and drive long-term growth. The statement highlights the flexible and proportional nature of the framework and offers practical solutions to address overcompliance challenges.
At a moment where European leaders are seeking to boost competitiveness and attract major financing to support companies’ sustainability transition, the EU sustainability reporting framework plays a key role in protecting the EU market and levelling the playing field with global players.
The statement signatories call on European and national policymakers to focus on supporting a smart and easy implementation of EU sustainability reporting standards, instead of playing ping-pong with the legal framework.
Read the full statement here: Smart implementation of EU sustainability reporting standards: make complying with rules easy
The Committee on Legal Affairs of the European Parliament adopts improvements on the Corporate Sustainability Due Diligence Directive.
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.
The European Parliament has adopted the Corporate Sustainability Reporting Directive (CSRD), which clarifies transparency obligations for large companies operating in the EU on their sustainability impacts, risks, and opportunities. Pursuant to the CSRD, companies across all sectors will report against the European Sustainability Reporting Standards, which were developed by the European Financial Reporting Advisory Group (EFRAG), submitted to the European Commission and published on 22 November.
