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Sustainable Business Calls For Ambitious European Sustainability Reporting Standards

Sustainable business calls for ambitious European sustainability reporting standards

Brussels, 7 July 2023 – and its member organisations welcome the draft European Sustainability Reporting Standards (ESRS) but oppose any further weakening. We stress the need to uphold the ambitious nature of the standards as proposed by the European Financial Reporting Advisory Group (EFRAG). expresses concerns about potential issues if the mandatory core of the standards is removed, emphasising the interconnectedness of ESG topics and the importance of preserving the integrity of EU reporting standards. Recommendations to the European Commission include making it obligatory for companies to disclose climate change, value chain worker impacts and biodiversity, ensuring data provision required by investors under the Sustainable Finance Disclosure Regulation (SFDR), and immediate implementation of topical standards for all target groups. Following these recommendations helps the EU to create an enabling business environment to reach climate, circular economy, and biodiversity targets for 2030 and 2050. 

Read the full position paper and access our feedback form to the Open Consultation

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