ESG & Investing
EU Proposes Delaying Some ESG Reporting Rules
- Commission says cutting red tape is crucial to be competitive
- The plan calls for ‘immediate reduction in reporting burden’
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Europe’s executive arm is proposing a two-year delay in implementing a key element of its sustainable finance framework, as complaints mount that businesses can’t keep up.
The European Commission said cutting red tape is critical to ensuring that the region’s companies remain competitive, according to a document laying out its agenda for 2024. That means extending the deadline for adoption of sectoral elements of the European Sustainability Reporting Standards, or ESRS, currently due to come into force in June.