BRIEF – Staying Green: Retaining the integrity of environmental disclosures under European corporate sustainability reporting
With the forthcoming EU Omnibus Proposal, the push for regulatory streamlining and simplification must not come at the expense of robust and scientifically valid environmental disclosures.
European scientific, legal, and accounting communities play a crucial role in ensuring that corporate sustainability reporting retains its integrity under the current waves of geopolitical upheaval and pressures. Insights from these communities can importantly support legislators and policymakers to streamline extant compliance burdens while successfully retaining the ambitions and intent of the CSRD, ESRS, Taxonomy Regulation, and related instruments.
OPEN LETTER TO THE EUROPEAN COMMISSION
December 23, 2024
Grounding EU Sustainability Reporting in Science: A Call for Action
As Europe and the world await the European Commission’s anticipated February 2025 Omnibus Simplification Package, it is vital that members of the scientific and research communities add their voices to the dialogue on the future of EU corporate sustainability-oriented legislation. Recent statements from Accountancy Europe and over 90 organizations representing financial, corporate, and civil society interests have argued for the need to reduce the reporting burden on market participants while ensuring a smart implementation of legislative and reporting existing frameworks. We agree with these statements but emphasize that science must play a central role in achieving these goals.
Biodiversity loss is unravelling the web of life that supports all people, societies, economies, including the financial system. MISTRA Finance to Revive Biodiversity (FinBio) will provide cutting-edge research to connect the financial system and biodiversity.
MISTRA FinBio is hosted by Stockholm Resilience Centre at Stockholm University. The program is a partnership between academic and financial actors. Our mission is to support the financial sector’s capacity to contribute to a nature-positive economy, enhancing the resilience of our planet by reversing the loss of nature and biodiversity.
