Business reporting – Photo by Scott Graham on Unsplash
(BRUSSELS) – The EU Commission adopted Monday the European Sustainability Reporting Standards (ESRS) for use by all companies subject to the Corporate Sustainability Reporting Directive (CSRD).
This marks another step forward in the transition to a sustainable EU economy, said the Commission.
“The standards we have adopted today are ambitious and are an important tool underpinning the EU’s sustainable finance agenda,” said Financial Services Commissioner Mairead McGuinness: “They strike the right balance between limiting the burden on reporting companies while at the same time enabling companies to show t
The standards cover the full range of environmental, social, and governance issues, including climate change, biodiversity and human rights. They provide information for investors to understand the sustainability impact of the companies in which they invest. They also take account of discussions with the International Sustainability Standards Board (ISSB) and the Global Reporting Initiative (GRI) in order to ensure a very high degree of interoperability between EU and global standards and to prevent unnecessary double reporting by companies. The reporting requirements will be phased in over time for different companies.
Adoption of European Sustainability Reporting Standards - guide
