A group of leading organisations in the field of sustainable finance, including Frank Bold, issued a joint statement with recommendations for the upcoming revision of the Non-Financial Reporting Directive*.
The current COVID-19 crisis has shown how economic, social and environmental aspects are interlinked and the need to put in place the right tools and incentives for each stakeholder from both public and private sector to play its role. The European Commission indicated in its recently published consultation on a renewed Sustainable Finance strategy that companies should prioritise key stakeholders’ long-term interest. We see the revision of the Non-Financial Reporting Directive as an important element of achieving this.
As a group of stakeholders with different backgrounds, but a common interest in sustainable finance, we believe the following matters are instrumental in the upcoming revision of the NFRD to make a leap forward in improving the quality, comparability and consistency of information on environmental, social and governance matters:
You can read the full statement, which includes further details for each of the above recommendations below.
*The group is formed by ACCA, Accountancy Europe, Association of German Banks (BdB), CDSB, EFAMA, Frank Bold, IIGCC, Schroders, ShareAction, WWF who came together in an informal platform for collaboration and discussion on crucial EU policy issues on sustainability. The statement was also supported by BNP Paribas AM and Candriam (while not being part of the informal group itself).
Yesterday, on 5 November 2018, a lawsuit against the Ministry of the Environment (MoE) on liability for health damages and death of her husband from lung cancer was filed with the District Court in Prague 10. The plaintiff seeks damages for lung cancer, which she has managed to cure, but her husband has succumbed to the illness in October. The cause of the disease is seen in the long-term excessive concentration of air pollutants at their place of residence in Ostrava-Radvanice and in the fact that the MoE failed to provide effective measures to decrease the pollution to legal limit values.
The Brussels office of the public interest law firm Frank Bold is currently recruiting a Research Intern to start full-time in January 2017 for a period of four to six months.
Where has the European Commission gone beyond and where has it fallen short?
