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
Investors, asset managers and civil society organisations call for the prompt implementation of the reform on corporate sustainability reporting and EU standards
Frank Bold together with other leading NGOs working on corporate sustainability and sustainable finance raised strong concerns about the delay in the publication of the Sustainable Corporate Governance initiative, as well as the lack of information explaining such new delay.
Due diligence is a precondition for the sustainable activities as defined by the EU Taxonomy and green financing under the Sustainable Finance Disclosure Regulation, including green bonds. Particular ESG due diligence requirements will be regulated by the forthcoming Sustainable Corporate Governance Directive. To help companies better understand its scope and to clarify its requirements, Frank Bold is hosting a webinar. It will feature international experts from companies such as Ericsson and outdoor clothing manufacturer Vaude. We invite you to join us on 26 January at 10 am CET.
