In case you missed it, the EU Taxonomy is undergoing an important transformation.
The European Sustainable Investment Forum (Eurosif) and the UN Principles for Responsible Investment (PRI) have written to EU institutions calling for the inclusion of mandatory disclosures on company transition plans and net-zero commitments in the Corporate Sustainable Reporting Directive (CSRD).
The European Financial Reporting Advisory Group (EFRAG) has published its Due Process Procedures for Sustainability Standard-Setting.
“While the market continues to demand transparency, more than half of senior executives (57% of survey respondents) indicated that data availability (access) and data quality (accuracy/completeness) remain their greatest challenges with respect to environmental, social, and governance (ESG) data for disclosure,” says Deloitte.
The International Organization of Securities Commissions (IOSCO) has welcomed the publication of draft climate and general sustainability reporting standards by the International Sustainability Standards Board (ISSB).
The European Supervisory Authorities – comprising the European Banking Authority, the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority – recently updated their joint supervisory statement on the application of the Sustainable Finance Disclosure Regulation (SFDR).
The ISSB has released its first two proposed standards, allowing the consultation process to begin and marking a critical milestone on the way to a global baseline for sustainability reporting.
Crossing the finishing line of a standards-drafting marathon, the European Financial Reporting Advisory Group (EFRAG) has published its final working paper on sustainability reporting standards.
The presentations and videos are online from XBRL Europe’s latest webinar, ‘From ESEF to Sustainability/ESG Reporting.’
In order to accelerate the creation of standards, the IFRS Foundation’s Due Process Oversight Committee (DPOC) has approved the publication of the exposure drafts on climate-related and general sustainability disclosures before the International Sustainability Standards Board (ISSB) is quorate.