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 FAQ aims at helping policymakers and stakeholders understand better why we need the ESRS and what reporting requirements they imply for companies.
The FAQ answers the following questions :
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.
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.
In light of the severity and the short timeframe that remains to take action to limit global warming to 1.5 degrees, it is important that the EU Corporate Sustainability Due Diligence Directive (CSDDD) leaves no legal ambiguity concerning corporate obligations regarding climate change.
