On Monday 31 July, the European Commission adopted the ‘European Sustainability Reporting Standards’ (ESRS), which apply to all companies subject to the Corporate Sustainability Reporting Directive and which are currently the subject of a public consultation (CSRD) (see EUROPE 13200/15).
“The standards we have adopted today are ambitious and an important tool to support the EU’s sustainable finance agenda. They strike the right balance between limiting the burden on reporting companies and enabling companies to demonstrate their efforts to meet the Green Deal agenda and, as a result, gain access to sustainable finance”, commented Financial Services Commissioner Mairead McGuinness.
The standards, which will be phased in gradually for companies, should be used in particular to provide information to investors so that they are aware of the impact on sustainable development of the companies in which they invest.
These standards, which take account of the discussions held by the Commission with international players, must also be interoperable and avoid companies having to make duplicate declarations unnecessarily. (Original version in French by Thomas Mangin)