On August 30th, 2024, Italy and Ireland advanced the transposition of the EU Corporate Sustainability Reporting Directive (CSRD) into their national legal frameworks. This marks a critical development in the harmonization of sustainability reporting obligations across the European Union. Italy’s Legislative Approach Italy’s transposition of the CSRD, as ratified by…

The European Securities and Markets Authority (ESMA) has announced the publication of the official translations of its Guidelines on the use of Environmental, Social, and Governance (ESG) or sustainability-related terms in the names of UCITS (Undertakings for Collective Investment in Transferable Securities) and AIF (Alternative Investment Funds). These guidelines were…

The Corporate Sustainability Due Diligence Directive (CSDDD), enacted through Directive (EU) 2024/1760, represents a legislative instrument aimed at embedding sustainable practices and human rights protections into corporate governance. The Directive focuses on corporate responsibility, requiring companies operating within the EU or conducting significant business in the Union to actively assess…

In a landmark move, the EU Council and Parliament have established a provisional agreement on the new regulatory framework for Environmental, Social, and Governance (ESG) rating activities. This decisive step is anticipated to bolster investor confidence in sustainable products by enhancing the transparency and reliability of ESG ratings. ESG ratings…

MEPs Endorse Delay with a Focus on Quality and Transparency In a significant development on January 24, 2024, the European Parliament’s Committee on Legal Affairs (JURI) agreed to a proposal by the European Commission to postpone the adoption of specific sustainability reporting standards. This adjustment is aimed at sectors and…

As we navigate through 2024, it has become evident that this year is pivotal for the full-scale integration of Environmental, Social, and Governance (ESG) and sustainability principles into the corporate ethos. Companies across the board are now mandated to undertake a comprehensive overhaul of their governance, internal organisation, and their…

In a significant step towards streamlined sustainability reporting, the Global Reporting Initiative (GRI) and the IFRS Foundation have unveiled a collaborative effort that marks a milestone in corporate environmental accountability. The newly published “Interoperability considerations for GHG emissions when applying GRI Standards and ISSB Standards” offers a comprehensive guide for…

In a significant move towards a greener financial system, the European Securities and Markets Authority (ESMA) has unveiled its Sustainable Finance Roadmap for 2022-2024. This strategic document outlines ESMA’s vision and priorities in integrating sustainability considerations into the financial sector, marking a pivotal step in the European Union’s commitment to…

In an era where corporate responsibility is increasingly under the microscope, a landmark agreement has been reached between the Council and the European Parliament. This agreement, focusing on corporate sustainability due diligence, marks a significant step in ensuring that large companies are held accountable for their impact on both human…

The European Securities and Markets Authority (ESMA) recently responded to the International Auditing and Assurance Standards Board’s (IAASB) proposed International Standard on Sustainability Assurance (ISSA) 5000. This response is pivotal in shaping the future of sustainability assurance practices. ESMA’s Position ESMA’s feedback on the proposed ISSA 5000 standard reflects its…