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Frank Bold, ShareAction, Accountancy Europe, Eurosif, Finance Watch and WWF, as members of the Informal Group on Sustainable Finance, have released a joint statement on the EU’s Corporate Sustainability Due Diligence Directive (CSDDD).
In the statement, five key recommendations are suggested that will embed environmental, climate, and social impacts into the company's long-term strategy.
By the end of July, the European Commission is expected to adopt its first set of sustainability reporting standards (ESRS). The standards will impact 50,000 European companies and thousands international corporate groups. As part of the EU Corporate Sustainability Directive (CSRD) ecosystem, they will require large companies to report information on their sustainability impacts on people and planet as well as their sustainability-related risks and opportunities.
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.
The Committee on Legal Affairs of the European Parliament adopts improvements on the Corporate Sustainability Due Diligence Directive.
