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L’anno scorso ha segnato una tappa fondamentale nel percorso dell’Unione europea verso la sostenibilità e la trasparenza, con l’adozione da parte della Commissione degli standard europei di rendicontazione sulla sostenibilità (ESRS). Questa iniziativa, parte integrante del Green Deal europeo, è stata varata per migliorare l’affidabilità e la comparabilità delle informazioni sulla sostenibilità fornite dalle grandi imprese e dalle società quotate in borsa.…

December 22, 2023 EFRAG (The European Financial Reporting Advisory Group) has issued its draft EFRAG IG 1 Materiality Assessment Implementation Guidance for stakeholders feedback by 02 February 2024. The document provides guidance for companies on implementing materiality assessment under the European Sustainability Reporting Standards (ESRS). It outlines the double materiality…

December 22, 2023 EFRAG (The European Financial Reporting Advisory Group) has issued its draft EFRAG IG2: “Value Chain Implementation Guidance” for stakeholders feedback by 02 February 2024. The document provides detailed implementation guidance on value chain (VC) for companies under the European Sustainability Reporting Standards (ESRS). It outlines the importance…

Global Reporting Initiative (GRI) and The European Financial Reporting Advisory Group (EFRAG) signed a new Memorandum of Understanding (MoU) which substantiates the benefits of the alignment achieved between the European Sustainability Reporting Standards (ESRS) and the GRI Standards. This [draft] Index is a mapping tool that helps entities understand the…

July 31, 2023. The Commission has adopted the European Sustainability Reporting Standards (ESRS), supplementing Directive 2013/34/EU of the European Parliament and of the Council as regards sustainability reporting standards, for use by all companies subject to the Corporate Sustainability Reporting Directive (CSRD). This delegated act is based on Article 29b(1),…

What does “current value” mean? The basis used to calculate the “current value of all investments” in the PAI indicators applicable to investments in investee companies should be consistent with the definition of the “investee company’s enterprise value” as defined in point (4) of Annex I of the Delegated Regulation,…

In November 2022, the European Financial Reporting Board (EFRAG) published the draft of European Sustainability Reporting Standards (ESRS), within the framework of the EU Corporate Sustainability Reporting Directive (CSRD) that entered into force from January 2023. The CSRD affects companies based in the European Union, as well as branches and…

How will it work in practice? The purpose of this FAQ document is to provide guidance on the content of the EU Taxonomy Article 8 delegated act (disclosures delegated act). It is not legal advice and it contains only the views of Commission services, which do not bind the College…

Most big companies operating internationally will face mandatory environmental, social and governance reporting requirements over the next few years. As Tom Seidenstein, chair of the International Auditing and Assurance Standards Board, explained in this Bloomberg article, the reports will have to undergo limited assurance. “The earliest mandate is coming from…

EU Sustainability Reporting with 1000 data points With EU Sustainability Reporting Standards progressing, EFRAG says they have identified “1000 data points” that companies will report. As GRI’s Peter Paul Van De Wijs explains in this Bloomberg article, the new standards will apply widely: “International companies must follow the rules if…