EU Lawmakers Seek Mandatory Climate Data in Rebuff to Commission
- Investors have voiced frustration over Commission’s proposal
- Proposed corporate ESG reporting rules fuel tensions in EU
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Companies operating in Europe must be required to disclose detailed climate information, EU lawmakers said in a letter to the bloc’s executive arm as they seek to reverse a planned easing of ESG reporting rules.
“The mandatory or justified nature of the standards is the key to reliable, shared and undistorted information,” lawmakers from four political parties said in a June 29 letter seen by Bloomberg. “It is therefore necessary to reintroduce the mandatory nature of data points relating to climate, regardless of the outcome of the companies’ materiality analysis.”