On 31 July 2023, the European Commission adopted the first set of European Sustainability Reporting Standards (ESRS). A significant stride towards promoting sustainable practices. These standards - set to be used by all companies under the Corporate Sustainability Reporting Directive (CSRD) - come with a mixed bag of progress made and loopholes to be closed.
From 9 June to 7 July 2023, the European Commission organised a public consultation to discuss the initial European Sustainability Reporting Standards (ESRS) set. ECOS has produced a position paper urging the Commission to implement recommendations on disclosing sustainability information to convey meaningful and comparable information that enables stakeholders to make informed decisions.
ECOS has released a position paper in response to the feedback provided by the European Commission on the proposed European Sustainability Reporting Standards (ESRS). ECOS addresses three critical areas for improvement to ensure that these standards evolve into an effective instrument for advancing the transition to a regenerative circular economy—the foremost priority outlined in the European Green Deal.
ECOS has sent its response to the European Commission’s public consultation of the first-ever proposed European Sustainability Reporting Standards (ESRS), which severely threaten the comparability of sustainability information.
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.
ECOS and 15 other civil society organisations call for ambitious European reporting standards. We urge the European Commission to keep the ambition of the ESRS in its upcoming delegated act and follow EFRAG's technical advice.
ECOS is co-funded by the European Commission and EFTA
Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or EISMEA. Neither the European Union nor the granting authority can be held responsible for them.
