Currently in force, the Corporate Sustainability Reporting Directive (CSRD) extends and solidifies the rules regarding sustainability information that companies should disclose. It obligates companies to use standards to fulfil their legal sustainability reporting obligation. In connection with this, the Commission adopted common standards to ensure harmonised reporting and facilitate access to sustainable finance.
According to the CSRD, sustainability reporting guidelines should avoid imposing unnecessary administrative burdens on businesses obligated to adhere to them. Therefore, these guidelines should consider a pre-existing benchmark for sustainability reporting. Among these established benchmarks and systems are the Global Reporting Initiative (GRI) and the International Sustainability Standards Board (ISSB).
Market impact The European Sustainability Reporting Standards (ESRS), adopted by the Commission on July 31st, 2023, is a set of standards that companies must adhere to when reporting, is not the market’s first attempt to better regulate climate-related di…
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