The Corporate Sustainability Reporting Directive (CSRD) is now in force across the EU. The directive requires a number of companies operating in the EU to publicly disclose and report on environmental, social, and governance (ESG) issues. This means businesses need to be prepared to comply with more demanding transparency obligations on their commitment to sustainability.
The European Union’s (EU) Corporate Sustainability Reporting Directive (CSRD) includes an extra-territoriality principle that widens the population of companies subject to sustainability reporting to non-EU groups and their EU subsidiaries. The objective is to maintain a level playing field for all economic players operating in the European market.
As a framework for sustainability reporting, the first set (“Set 1”) of European Sustainability Reporting Standards (ESRS) lay the foundations of the standardised common language for sustainability-related matters throughout Europe.
On 26 June 2023, the International Sustainability Standards Board (ISSB) published the first two IFRS Sustainability Disclosure Standards: IFRS S1 – General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 – Climate-related Disclosures.
The IFRS Sustainability Disclosure Standards (IFRS SDS) issued by the International Sustainability Standards Board (ISSB) lay the foundation of a global baseline of sustainability-related disclosures. However, implementing sustainability reporting standards represents significant challenges for many entities.
Half the world’s economic output – around US$44 trillion – is dependent on nature. Yet most corporates, investors and lenders inadequately account for nature-related risks and opportunities.
In October 2023, the State of California passed groundbreaking legislation requiring the disclosure of greenhouse gas (GHG) emissions and climate-related financial risks. As the world’s fifth-largest economy, California has the economic heft to influence the course of regulatory developments in many domains worldwide. Sustainability reporting is no exception. SB253
12/03/2021 Two recent reports mandated by the European Commission have made recommendations on the development of EU sustainability reporting standards. The publication of each signifies that positive change is coming; below, Maud Gaudry shares her insight on the future of sustainability reporting and her experience working on one of the reports.
19/05/21 Awaited with great impatience by some, yet with caution or even concern by others, the Corporate Sustainability Reporting Directive (CSRD) adopted by the European Commission on April 21 has received a largely positive reception from many stakeholders, and rightfully so.
28/04/2021 The recently released proposal for the Corporate Sustainability Reporting Directive (CSRD) aims to create a robust common language for sustainability reporting in the EU. Adopted by the European Commission and currently making its way through the European Parliament and Council, the directive imposes common sustainability reporting standards that large businesses and listed businesses in...
Our sustainability experts around the globe deliver expertise to support businesses on their sustainability journey, whether they are at the beginning or already tackling complex ESG challenges. Visit our blog for insights on how to embed ESG in your business strategy, implement sustainable changes, or navigate sustainability reporting and assurance regulations.
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