10/07/23 (Agence Europe) – The EuropeanIssuers association, which represents the interests of companies listed on European stock exchanges, said in a statement on Monday 10 July that it supported the extra-financial reporting standards (European Sustainability Reporting Standards - ESRS). It welcomed the flexibility granted in the European Commission’s draft delegated act, but called for “further clarity, simplicity and alignment” with global IFRS standards (see EUROPE 13218/14). In its response to the consultation, the association “urged the European Commission to develop a common methodology for assessing the financial effects of environmental issues”. In this way, it hopes to facilitate meaningful comparisons and enable companies to prepare themselves. “We believe that adopting a common financial materiality test or incorporating an ‘investor materiality’ component would promote clarity and align reporting requirements”, added EuropeanIssuers. (AD)