News

The newly released Corporate Sustainability Reporting Directive (CSRD) will be instrumental to achieve the European Green Deal. The European Union (EU) will need appropriate sustainability reporting standards to comply with the CSRD and to ultimately achieve these public policy objectives. We have long supported the sustainability reporting agenda and will continue contributing our expertise to successfully implementing the CSRD. Read more in our CSRD statement.

We welcome the European Financial Reporting Advisory Group (EFRAG) Lab Project Task Force’s proposals for a relevant and dynamic EU sustainability reporting standard setting to the European Commission (EC) from February 2021. European sustainability reporting standards need to be developed quickly to meet the ambitious EC timeline whilst being of high quality and fit for purpose to different sizes of companies.

We look forward to collaborating with the future European sustainability reporting standard setter within EFRAG. The accountancy profession’s contribution is indispensable to help ensure the development of robust and verifiable sustainability reporting standards, which enable reliable reporting, improve market transparency, and minimise greenwashing.

Since 2017, Accountancy Europe has been advocating for the collaboration, coordination and ultimately, the consolidation of different sustainability reporting initiatives. Clear cooperation mechanisms between the future EU, and any international, sustainability standard setters would:

  • improve resource efficiencies
  • produce timely and robust standards, within the scope of the respective initiatives
  • avoid inconsistencies and duplications in reporting standards

Global reporting standards would best meet investors’ and capital markets’ needs whilst minimising the reporting burden and costs for companies. It is paramount to build on international initiatives and contribute to international convergence – the EU is well-placed to catalyse this.

To this end, we applaud EFRAG’s and the EC’s collaborative approach with leading international sustainability standard setters.

Related content

NewsEuropean sustainability reporting standards: shaping EU’s green future

22 August 2022

EventEquipping the public sector for sustainability action

4 April 2023

NewsTraining Italian accountants to take up the sustainability challenge

20 March 2023

NewsFinnish auditors gearing up for a comprehensive ESG training

3 March 2023

Stories from practiceInsight from SME accountants: kicking off the sustainability journey

27 February 2023

UpdateSustainability

24 February 2023

PublicationMulti-stakeholder analysis of corporate failures

8 February 2023

UpdateSustainability

26 January 2023

NewsCollaboration – the key to high-quality sustainability education framework for accountants

23 January 2023

Consultation responseIPSASB’s exposure draft 83, reporting sustainability program information

17 January 2023

PublicationIndependent assurance on ESEF – the block tagging requirement

15 December 2022

NewsJoint statement on the Corporate Sustainability Due Diligence Directive

8 December 2022

UpdateSustainability

25 November 2022

PublicationFAQs: all you need to know about the Corporate Sustainability Reporting Directive

23 November 2022

NewsEFRAG SRB issues first set of draft EU Sustainability Reporting Standards

23 November 2022

PublicationComparing European corporate governance models

17 November 2022

NewsNew SRB chair to further European sustainability reporting agenda

16 November 2022

EventSMEs’ sustainable transition: how to support it?

15 November 2022

PublicationSustainability education

14 November 2022

UpdateSustainability

28 October 2022

NewsEC’s proposal to ban products made using forced labour

28 October 2022

Sign up for our newsletter

* indicates required
Would you like to subscribe to our newsletter?
On which topics would you like to receive news?