Filip Gregor
Head of the Responsible Companies Team
We have analysed hundreds of pages of technical documents and prepared a comprehensive overview of the sustainability reporting requirements under the forthcoming EU legislation. We summarise what ESG data will be critical for companies, banks, and investors in sustainability strategy and management and in the areas of climate change, environment, sustainable activities, employees and supply chains, due diligence, and anti-corruption measures.
In the integrated overview, we present the requirements of the Sustainable Finance Disclosure Regulation (SFDR), Corporate Sustainability Reporting Directive (CSRD, the reform of the Non-Financial Reporting Directive), and the Regulation on Taxonomy of Sustainable Activities.
Currently, only large listed companies, banks, and insurance companies with more than 500 employees have to report sustainability data. The CSRD proposal, introduced in April 2021, extends the scope to all large companies and SMEs listed on stock exchanges, except for microenterprises. Investors and other financial market participants must also disclose sustainability data under the SFDR. The rules for companies and investors are complemented by regulation on a framework to facilitate sustainable investments - Taxonomy. Standards will be developed for both the SFRD and the Taxonomy to clarify specific technical details and criteria.
The final drafts of these standards are clearly summarised in the integrated overview by Frank Bold:
Meeting the goal of the European Green Deal to achieve no net GHG emissions by 2050 requires at least half trillion euros of additional investments in the EU every year and will involve significant market and regulatory changes targeting every sector of the economy. This will profoundly change how companies and their directors need to integrate sustainability concerns in their strategies and business decisions.
Frank Bold organised two online events to present the results of the research on the disclosures made by 300 companies on climate and environmental matters providing targeted presentation and insights for companies in Southern Europe and Central and Eastern Europe.
On Tuesday, October 6th, Filip Gregor, Head of our Responsible Companies section spoke at the conference on ‘Global Supply Chains - Global Responsibility: Human Rights and Decent Work in Global Supply Chains’ organised by the German Ministry of Labour and Social Affairs on the occasion of the German EU Council presidency.
