ESMA publishes guidelines on enforcement of sustainability information
On 5 July 2024, ESMA published its Guidelines on Enforcement of Sustainability Information (GLESI). With this report, ESMA and the regulators of financial markets in EU Member States are signalling that they intend to play a significant role in ensuring consistent and rigorous implementation of ESRS, as they do for financial reporting (cf. the “GLEFI”).
The GLESI will apply to enforcement of sustainability information published in 2025 (i.e. the first ESRS sustainability statements). In addition to the enforcement actions set out in the GLESI, the guidelines also encourage dialogue between issuers and other stakeholders, such as auditors and independent assurance services providers, to promote continuous improvement in the quality of ESRS sustainability reporting.
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