{"id":1682,"date":"2021-04-22T13:30:23","date_gmt":"2021-04-22T13:30:23","guid":{"rendered":"http:\/\/eos.co.id\/main\/?page_id=1682"},"modified":"2021-04-22T13:30:30","modified_gmt":"2021-04-22T13:30:30","slug":"gri-backs-mandatory-eu-reporting-on-sustainability-impacts","status":"publish","type":"page","link":"https:\/\/eos.co.id\/main\/gri-backs-mandatory-eu-reporting-on-sustainability-impacts\/","title":{"rendered":"GRI backs mandatory EU reporting on sustainability impacts"},"content":{"rendered":"\n<h3><a href=\"https:\/\/www.globalreporting.org\/about-gri\/news-center\/gri-backs-mandatory-eu-reporting-on-sustainability-impacts\/?utm_source=google&amp;utm_medium=social&amp;utm_campaign=eureportingnewsapr2021\" data-type=\"URL\" data-id=\"https:\/\/www.globalreporting.org\/about-gri\/news-center\/gri-backs-mandatory-eu-reporting-on-sustainability-impacts\/?utm_source=google&amp;utm_medium=social&amp;utm_campaign=eureportingnewsapr2021\">Source >>><\/a><\/h3>\n\n\n\n<p><strong>Published date:<\/strong>&nbsp;21 April 2021<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/www.globalreporting.org\/media\/eihjqulg\/eu_legislation-web.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<h3>New corporate sustainability legislation would expand disclosure<\/h3>\n\n\n\n<p>GRI has welcomed that the European Commission is maintaining its ambition to achieve progress in corporate transparency on sustainability impacts, following publication of the proposed new&nbsp;<a href=\"https:\/\/ec.europa.eu\/info\/publications\/210421-sustainable-finance-communication_en\">Corporate Sustainability Reporting Directive<\/a>&nbsp;(CSRD).<\/p>\n\n\n\n<p>The CSRD would have a significantly extended scope than the current Non-Financial Reporting Directive, applying to all large or listed companies operating in the EU. With a stated aim of bringing sustainability reporting on a par with financial reporting, it would help ensure both have equal weight and rigor.<\/p>\n\n\n\n<p>Since its inception more than 20 years ago, GRI has championed the move to mandatory sustainability reporting requirements, while freely providing the sustainability standards that are widely and increasingly used by organizations on a voluntary basis.<\/p>\n\n\n\n<h4><strong>Notable components of the CSRD include:<\/strong><\/h4>\n\n\n\n<ul><li>New EU sustainability reporting standards will be developed through a multi-stakeholder and transparent process led by EFRAG, taking account of the GRI Standards and other existing reporting frameworks<\/li><li>Explicit adoption of \u2018double materiality\u2019 \u2013 requiring public reporting on both sustainability factors affecting the company (financial materiality) and how the company impacts on society and the environment (outward materiality)<\/li><li>Reporting will be mandatory, with sustainability and financial information given \u2018comparable status\u2019, and a requirement for reported information to be audited and assured<\/li><\/ul>\n\n\n\n<h4><strong>Peter Paul van de Wijs, GRI Chief External Affairs Officer, said:<\/strong><\/h4>\n\n\n\n<p>\u201cWe are greatly encouraged that the European Commission is pressing ahead, at pace, with plans to significantly strengthen sustainability reporting in the EU. This legislation would introduce mandatory requirements for some 50,000 companies to disclose the full range of their impacts on people and planet, which is essential if the EU is to ensure meaningful progress in achieving the Green Deal.<\/p>\n\n\n\n<p>The CSRD \u2013 which embraces multi-stakeholder, impact-focused reporting, positioning sustainability and financial reporting on an equal footing \u2013 closely aligns with the approach and scope of the GRI Standards, which are already voluntarily used by most large companies in Europe.<\/p>\n\n\n\n<p>We look forward to working closely with EFRAG to co-design a sustainability reporting system that reflects the Commission\u2019s ambitions for consistent and comparable reporting on corporate impacts, contributing to the next steps in the continued evolution of corporate reporting.\u201d<\/p>\n\n\n\n<p>On 21 April, the European Commission published the&nbsp;<a href=\"https:\/\/ec.europa.eu\/finance\/docs\/law\/210421-proposal-corporate-sustainability-reporting_en.pdf\">proposed CSRD<\/a>&nbsp;with a&nbsp;<a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/qanda_21_1806\">supporting Q&amp;A<\/a>. The CSRD closely reflects EFRAG\u2019s&nbsp;<a href=\"https:\/\/www.globalreporting.org\/about-gri\/news-center\/eu-requirements-for-impact-focused-sustainability-reporting-are-one-step-closer\/\">recommendations on establishing an EU sustainability framework<\/a>.<\/p>\n\n\n\n<p>A&nbsp;<a href=\"https:\/\/ec.europa.eu\/info\/events\/finance-210506-non-financial-reporting-directive_en\">High-level conference on the review of the Non-Financial Reporting D<\/a>irective on 6 May offers an important opportunity for the Commission to set to out it\u2019s commitment to double materiality.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source >>> Published date:&nbsp;21 April 2021 New corporate sustainability legislation would expand disclosure GRI has &hellip; <a href=\"https:\/\/eos.co.id\/main\/gri-backs-mandatory-eu-reporting-on-sustainability-impacts\/\" class=\"more-link\"><span class=\"more-button\">Continue Reading<span class=\"screen-reader-text\">GRI backs mandatory EU reporting on sustainability impacts<\/span><\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/eos.co.id\/main\/wp-json\/wp\/v2\/pages\/1682"}],"collection":[{"href":"https:\/\/eos.co.id\/main\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/eos.co.id\/main\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/eos.co.id\/main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eos.co.id\/main\/wp-json\/wp\/v2\/comments?post=1682"}],"version-history":[{"count":1,"href":"https:\/\/eos.co.id\/main\/wp-json\/wp\/v2\/pages\/1682\/revisions"}],"predecessor-version":[{"id":1683,"href":"https:\/\/eos.co.id\/main\/wp-json\/wp\/v2\/pages\/1682\/revisions\/1683"}],"wp:attachment":[{"href":"https:\/\/eos.co.id\/main\/wp-json\/wp\/v2\/media?parent=1682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}