EU law requires listed companies to disclose information on risks and opportunities arising from social and environmental issues to help investors, civil society, consumers and other stakeholders assess the sustainability of their activities. On 31 July 2023, the Commission adopted the first cross-cutting standards and norms for all sustainability topics to facilitate such reporting.
These were to be followed by sectorial-specific standards and standards for certain third-country undertakings. All these new standards were scheduled to be in place by 30 June 2024. But the agreement of these days between the EU co-legislators (Council and Parliament) postpones the adoption of the new standards to 30 June 2026, allowing companies to focus on the implementation of the first set of ESRS and giving more time to prepare for the sectorial-specific sustainability standards as well as standards for certain third-country companies. (LEGITECH)
For info:
Press releases: DAILY NEWS - 8 February 2024 - Brussels
Commission welcomes agreement on postponing adoption deadlines for certain European Sustainability Reporting Standards (ESRS)