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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…

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…

The Rise of ESG in Corporate Governance 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…

Last year marked a significant milestone in the European Union’s journey towards sustainability and transparency, with the Commission adopting the European Sustainability Reporting Standards (ESRS). This initiative, integral to the European Green Deal, was established to enhance the reliability and comparability of sustainability information reported by large and listed companies.…

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…