Commission Delegated Regulation (EU) 2023/2772 supplementing Directive 2013/34/EU as regards sustainability reporting standards

This Directive amends the previous directive governing the reporting of non-financial information in financial disclosures. It requires member states to introduce measures to ensure that sustainability disclosures include information on plans and strategies to ensure a corporate entity's business model and strategy are compatible with the transition to a sustainable economy, the global temperate target of 1.5 Degrees, and the goal of achieving climate neutrality by 2050, as well as the exposure of the entity to coal, oil and gas.

EU Directive 2022/2464 (Corporate Sustainability Reporting Directive)

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Regulation (EU) 2023/2772 HTML Link

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<p>To comply with the Corporate Sustainability Reporting Directive (Directive (EU) 2022/2464, amending Directive 2013/34/EU), the European Commission must adopt a set of standards that specify what information must be reported, including “at least the information financial market participants need in order to comply with the disclosure obligations of Regulation (EU) 2019/2088 (on sustainability related disclosures in the financial services sector)”.</p>
<p>Regulation (EU) 2023/2772 sets outs the European sustainability reporting standards (ESRS), specifically specifying the information that an entity must disclose about its material “impacts, risks and opportunity” in relation to environmental, social, and governance sustainability matters.</p>