ESMA Consults on Sustainability Reporting Draft Guidelines

EU financial markets regulator the European Securities and Markets Authority (ESMA) has issued a consultation on its draft Guidelines on Enforcement of Sustainability Information. The guidelines’ primary objectives include ensuring national competent authorities undertake supervision of listed companies’ sustainability information under the Corporate Sustainability Reporting Directive (CSRD), the European Sustainability Reporting Standards (ESRS) and Article 8 of the Taxonomy Regulation in a “converged manner”. It also targets establishing consistency in and robust approaches to the supervision of listed companies’ sustainability and financial information, which the authority said will “facilitate increased connectivity between the two types of reporting”. Under CSRD, sustainability reporting requirements will be extended to nearly 50,000 large companies across EU member states, which must disclose data on the impact of their business operations across social and environmental themes. The directive will be underpinned by the ESRS. ESMA said the consultation will be of interest to listed companies that are required to publish sustainability information by the CSRD and Article 8 of the Taxonomy Regulation, as well as investors and other users of sustainability information and to auditors and independent assurance services providers. The consultation is due to run until 15 March 2024 and ESMA intends to publish the final guidelines in Q3 2024.

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top