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HomeLatest NewsBrussels clarifies rules for companies to prepare their ESG reports

Brussels clarifies rules for companies to prepare their ESG reports

Date: April 17, 2024 Time: 09:51:59

The European Commission adopts new standards on sustainability. The European institution has adopted on Monday a series of common standards for preparing sustainability reports. With reports it has the objective of unifying these criteria for those companies subject to the obligation to present these reports according to the European directive. These standards deal with different aspects, from environmental, social and governance, including climate change, biodiversity and human rights. What is sought is to collect as much information as possible and in the most transparent way so that investors understand the impact on the sustainability of the companies in which they invest.

Brussels considers this milestone another step forward in the transition towards a sustainable economy in the EU. “The adopted rules are ambitious and constitute an important instrument to support the EU’s sustainable financing programme”, said the Commissioner for Financial Services and Capital Markets, Mairead McGuinness.

In this sense, he has assessed that they seek a balance between limiting the burden for declaring companies and, at the same time, “allow companies to show the efforts they are making to comply with the Green Deal Agenda and have access to financing sustainable”.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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