1/9 The #NFRD will be revised into a new Corporate Sustainability Reporting Directive #CSRD. The purpose is to bring sustainability reporting on equal footing with financial reporting. I cannot wait to roll up my sleeves and start working with this proposal.
3/9 The scope of sustainability reporting expands: #NFRD covered only 11000 large companies. #CSRD makes all large companies and listed companies (except listed micro-companies) publicly accountable for their impact on people and the environment.
4/9 #CSRD responds to investors’ demands for sustainability information. No more #greenwashing but detailed reporting in line with mandatory EU sustainability reporting standards, in management reports, in a digital machine-readable format.
5/9 #CSRD defines what sustainability reporting standards shall take into account. The actual standards will be developed by the The European Financial Reporting Advisory Group (EFRAG) @EFRAG_Org.
6/9 Environmental factors in sustainability reporting include e.g. the information on #climate change mitigation and adaptation, resource use and #circulareconomy, pollution, #biodiversity and ecosystems. #ESG
7/9 Social factors in sustainability reporting include e.g. #genderequality, #equalpay, employment and inclusion of people with #disabilities and #worklifebalance. #ESG
8/9 Respect for #humanrights, fundamental freedoms and standards set in @UNHumanRights and @ilo conventions are an essential part of reporting in #CSRD. #ESG #bizhumanrights
9/9 Sustainability reporting covers also governance factors such as the board’s role in sustainability matters, business ethics, #anticorruption, #antibribery and #lobbying activities. #ESG
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