Joint letter – Multistakeholder coalition demands timely adoption and implementation of ESRS standards
A coalition of NGOs, investors, sustainable companies, trade-unions, and multistakeholder alliances sent a joint letter to President Von Der Leyen and Commissioner McGuiness to voice their concern about the implications to postpone the development of the sector-specific sustainability reporting standards.
The coalition emphasises that the European Sustainability Reporting Standards (ESRS) are more than a compliance exercise as they:
- Provide a competitive advantage for companies allowing them to access capital and lower their costs.
- Are indispensable for improving the availability, quality, and comparability of sustainability performance information.
- Are essential for investors and other financial market participants.
In the letter, the coalition calls for:
- The finalisation of the sector-agnostic standards in time and as agreed upon by EFRAG without significant changes.
- A clear timeline and commitment from the Commission to develop and adopt the sector-specific standards.
Furthermore, the coalition welcomes the Commission’s request for the development of guidance for the sector-agnostic standards.
Read the full letter HERE.
Download the document
