Deep-Dive | Inside the new European Sustainability Reporting Standards
On our very first EU Sustainability Policy Day, The Shift and WWF Belgium welcomed Philippe Diaz and Antoine Pugliese, two experts who contributed to the development of the European Sustainability Reporting Standards (ESRS) within EFRAG. Afterwards we asked Jan-Klaas Somers, one of our very own Young Challengers and a sustainability consultant, to interview them with his most compelling questions.
Sustainability reporting is a hot topic. There’s now a myriad of reporting standards. Why should companies care about ESRS more than about the others?
Antoine: “CSRD (the Corporate Sustainability Reporting Directive) is mandatory legislation for all large European companies and those listed on the EU-regulated markets, including EU subsidiaries of non-EU parent companies. It’s about complying with the law.”
Philippe: “CSRD applies to +10.000 non-EU firms and hence may turn into the global baseline itself.”
“CSRD may well turn into the global sustainability reporting baseline standard”