LONDON (Reuters) – The European Union’s executive body on Monday published final rules for corporate sustainability disclosures that it said avoid unduly burdening companies and are closely aligned with global norms, to avoid duplication for international firms.
“The standards we have adopted today are ambitious and are an important tool underpinning the EU’s sustainable finance agenda,” European financial services commissioner Mairead McGuinness said in a statement.
“They strike the right balance between limiting the burden on reporting companies while at the same time enabling companies to show the efforts they are making to meet the Green Deal Agenda, and accordingly have access to sustainable finance.”
The new disclosure standards are set to be used by about 50,000 firms in their annual reports for 2024 and onwards.
(Reporting by Huw Jones; editing by Simon Jessop)
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