Héléna Charrier, Head of Socially Responsible Investment at La Banque Postale and member of the European Sustainable Investment Forum (Eurosif), expressed her concern about the simplification of the Corporate Sustainability Reporting Directive (CSRD) in the Sustainability Omnibus Podcast on Friday 4 April (see EUROPE 13614/6).
“The reduced corporate reporting scope means that such a margin may work against asset managers’ competitiveness simply by making collection of ESG [environmental, social and governance] data more costly and less accurate”, she pointed out.
In her view, the value chain cap in the proposed rules could prevent investors from seeking information from companies to verify that they are managing risks appropriately, in line with international standards such as the OECD guidelines. She argues that this would limit companies’ access to investment flows, by erecting barriers to dialogue, and would put EU investors at a competitive disadvantage by increasing the costs of collecting essential data.
Listen to the podcast: https://aeur.eu/f/gab (Original version in French by Anne Damiani)