All articles tagged with #sustainability reporting
The European Parliament approved a provisional agreement to significantly reduce sustainability reporting and due diligence requirements for companies, including raising thresholds for coverage and removing certain obligations, as part of the Omnibus I package aimed at easing compliance burdens while maintaining sustainability goals.
The EU Parliament narrowly rejected a compromise on the Omnibus I package, which aimed to modify sustainability reporting and due diligence laws, leading to a delay in negotiations and uncertainty for businesses. The vote reflects deep divisions among lawmakers over the scope of regulations, with some advocating for sharper cuts and others for minimal changes.
The International Sustainability Standards Board (ISSB) has published a new set of global rules aimed at helping regulators crack down on greenwashing. The rules require companies to disclose how climate change affects their business, and it would be up to individual countries to decide whether to require listed companies to apply the standards. The ISSB rules build on voluntary ones from the G20's Task Force on Climate-related Financial Disclosures (TCFD), and global securities watchdog IOSCO is expected to "endorse" the new standards. The European Union is also finalizing its own disclosure rules next month, and the ISSB and EU are set to issue guidance on avoiding duplication in coming months.