The European Commission has recently taken a significant step towards achieving a sustainable EU economy by adopting the European Sustainability Reporting Standards (ESRS). These standards are designed to be used by all companies that fall under the Corporate Sustainability Reporting Directive (CSRD). This move reflects the EU's commitment to promoting sustainable finance and aligning with its green deal agenda.
Ambitious Standards to Support the Sustainable Finance Agenda
Mairead McGuinness, the Commissioner for Financial Services, Financial Stability, and Capital Markets Union, highlights the importance of the adopted standards. They strike a delicate balance, ensuring that reporting companies are not overly burdened while enabling them to showcase their efforts towards meeting the green deal agenda and gaining access to sustainable finance.
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