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The European Financial Reporting Advisory Group (EFRAG) announced the release of new exposure drafts containing proposed sustainability reporting standards for SMEs. This marks the next step in establishing a new sustainability reporting system in Europe under the EU’s Corporate Sustainability Reporting Directive (CSRD). The new standards are composed of general sections covering general requirements, general disclosures, and policies, actions and…

On 24 January, the European Parliament approved a proposal to delay key aspects of the Corporate Sustainable Reporting Directive (CSRD) by 2 years, including the adoption of standards for companies to provide sector-specific sustainability disclosures and for sustainability reporting from companies outside of the EU. The proposal was made by the EU Commission in October. It highlighted the postponement of…

On 29 January, the EU Council announced that they have adopted a new legislation aimed at phasing down the emissions of highly potent greenhouse gases including fluorinated gases (F-gases) and ozone depleting substances (ODSs). This will result in the elimination of 500 million tonnes of CO2-equivalent emissions by 2050. The new rules will enter into force 20 days after publication…