Over 1,000 large non-EU groups operating in Europe are set to start reporting in 2029 on their sustainability impacts. However, EFRAG is closing this week a consultation on the draft standards with an option to include a "mixed approach" that is putting at risk:
- Fair competition between EU and non-EU companies.
- Consistent reporting requirements across the EU market.
- Decision-useful and comparable sustainability disclosures.
- Greater legal certainty and easier assurance.
- Reporting frameworks that reflect global business operations and value chains
- Adequate understanding and implementation of sustainability reporting and due diligence processes.
The World Benchmarking Alliance, Responsible Companies, Frank Bold and WWF European Policy Office explain the implications for businesses in a joint briefing.
The consultation is open until 31st of October if you wish to contribute.
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