With 37 votes in favour, 7 against and 3 abstentions, the European Parliament’s Committee on Economic and Monetary Affairs (ECON Committee) approved on Wednesday 13 July the appointment of Wolf Klinz as Chairman of the Financial Reporting Board of the European Financial Reporting Advisory Group (EFRAG).
Mr Klinz was heard in ECON shortly before the vote, citing his experience in the private and public sectors. He shared his vision for EFRAG. “To be effective, it is very important that the two boards - the financial reporting and the sustainability reporting - cooperate closely, communicate openly with each other, support each other and ensure that there is a strong interconnectivity between them”, the former MEP said.
EFRAG will assist the European Commission in establishing European standards for corporate sustainability reporting in accordance with the CSRD (see EUROPE 12989/1).
Mr Klinz wished that EFRAG would have a more proactive role and be able to propose solutions. He also wants to strengthen “work for the public good” by increasing dialogue with the European Parliament. (Original version in French by Anne Damiani)