EU Commission to Delay Adoption of Sustainability Reporting Standards by 2 Years

The European Commission has announced plans to delay certain aspects of its Corporate Sustainable Reporting Directive (CSRD). This includes postponing the adoption of sector-specific sustainability disclosures and sustainability reporting requirements for non-EU companies. The Commission’s 2024 Work Programme highlights the aim to reduce the reporting burden for companies. The proposed delay would push back the deadline for adopting sector-specific European Sustainability Reporting Standards (ESRS) by two years. The CSRD requires companies to report on sustainability impacts, opportunities, and risks. The postponement is intended to allow companies to focus on implementing the first set of ESRS and ensure efficient development of sectoral ESRS by EFRAG.

Resource: https://www.esgtoday.com/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years/

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