EC sustainability directive builds on EFRAG advice

28/04/2021 The recently released proposal for the Corporate Sustainability Reporting Directive (CSRD) aims to create a robust common language for sustainability reporting in the EU. Adopted by the European Commission and currently making its way through the European Parliament and Council, the directive imposes common sustainability reporting standards that large businesses and listed businesses in Europe need to report on and comply with.

Numerous recommendations made by the European Financial Reporting Advisory Group (EFRAG) can be found in the directive’s proposed text. Maud Gaudry, Director of Sustainability, Mazars, who led on project management for EFRAG’s multi-stakeholder Project Task Force, said:

“It is very encouraging to see the proposal include much of what EFRAG recommended in its two reports to the European Commission. By supporting a pragmatic but ambitious roadmap for sustainability, I am proud to have contributed to a landmark initiative that will ultimately help businesses better identify and assess their full impact and contribute to global sustainability. The CSRD will be crucial to ensuring sustainability is embedded into business practice across Europe and around the world.”

She added: “This represents another positive contribution from Mazars to the conversation and a significant step on the sustainability journey. I look forward to sharing more updates on the directive as legislative negotiations progress.”

The European Commission will hold a conference on 6 May on the CSRD to cover key issues and the objective of the proposal. You can register here.

Read more about how Mazars has contributed to collective progress on sustainability reporting here.