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Reflections on the EU Non-Financial Reporting Standards

Frank Bold, coordinator of the Alliance for Corporate Transparency, and the Investor Alliance for Human Rights welcome the European Commission’s commitment to explore the development of mandatory EU standards to accompany the reform of the EU Non-Financial Reporting Directive, contributing to the improvement of the EU legal framework around corporate sustainability reporting.

The Project Task Force on EU standards, hosted by the EU Corporate Reporting Lab under EFRAG, is carrying out critical preparatory work on the matter. The research of the Alliance for Corporate Transparency underscores the importance of the main findings outlined in the Task Force interim report. In particular, through the assessment of the sustainability disclosures of 1000 companies in 2019, and the recently published analysis of the latest climate/environmental disclosures of 300 European companies from sectors and regions critical to European decarbonisation plans, the research of the Alliance highlights the need to clarify and standardise sustainability reporting requirements to improve the quality and relevance of sustainability disclosure.

Click here to read more about Project Task Force Progress Report from Frank Bold and the Investor Alliance for Human Rights.