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In response to the Council of the EU and the European Parliament’s agreement on the Corporate Sustainability Reporting Directive (CSRD), Oliver Moullin, Managing Director for Sustainable Finance at AFME, said:
“The CSRD is a key pillar of the EU sustainable finance
framework. Once implemented, it will introduce comprehensive
sustainability reporting requirements for companies in the EU. Today’s
agreement is an important step towards improving the quality and
availability of sustainability information, which will further enable
our members’ role in financing the transition to a sustainable economy.”
Throughout the negotiations AFME has highlighted the challenges for international companies reporting on their global activities and exposures. On this topic, Moullin added:
“To have an effective framework for sustainability reporting, it is essential to maximise the interoperability of international reporting standards. This means promoting consistency to minimise fragmentation and aid comparability of data for investors. As EU authorities develop detailed reporting standards under the CSRD, it is essential to ensure the compatibility of EU standards with the common international baseline standards being developed by the International Sustainability Standards Board.”