EFRAG appoints ESG Standards Task Force
Having established a task force, the European Financial Reporting Advisory Group (EFRAG) is poised to proceed with the development of non-financial reporting standards, which, if implemented, would increase comparability, relevance and reliability of non-financial information.
Earlier this summer the European Commission (EC) tasked EFRAG with exploring the technical process of creating non-financial reporting standards, to be ready to implement if the ongoing revision of the Non-Financial Reporting Directive (NFD) calls for it.
The multi-stakeholder project task force has drawn a balanced representation of experts from across the EU. The task force will work closely with existing non-financial reporting initiatives and those involved with corporate reporting standard setting to prepare EU non-financial reporting standards that are, to the greatest possible extent, compatible with existing reporting standards.
Creating and using effective non-financial reporting standards will help improve the quality, consistency and coherence of corporate reporting, and is crucial to successfully build sustainable financial markets.
Read more here. You might recognise a name or two?