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  • Studio Paci

Official adoption of the European Standards for Sustainability Reporting

The European Commission recently confirmed the regulation regarding the Sustainability Reporting Standards (ESRS), as outlined by the ESG Directive on Corporate Sustainability Reporting.

The guidelines set by the European Commission are a central pillar for the European Union's vision of sustainability.

These directives reconcile the objective of limiting the bureaucratic burden for businesses and, at the same time, highlighting progress in the context of the Green Deal agenda, facilitating attraction of ESG investments.

The proposed standards cover a wide range of ESG issues, including vital sectors such as climate change, biodiversity protection and human rights.

These criteria provide investors with valuable tools to determine the sustainability footprint of the companies in which they intend to invest.

It is essential to mention that, in the definition of these standards, the interaction with the International Sustainability Standards Board (ISSB) and the Global Reporting Initiative (GRI).

This is to ensure synergy between European directives and global ESG standards, removing the need for repeated communications for companies.

The implementation of ESG reporting obligations will be progressive, adapting to the characteristics of the different realities.

The framework of principles is outlined through twelve key documents, including:

  • ESRS E1: Climate change;

  • ESRS E2: Pollution;

  • ESRS E3: Water and marine resources;

  • ESRS E4: Biodiversity and ecosystems;

  • ESRS E5: Resources and circular economy;

  • ESRS S1: Direct Workforce;

  • ESRS S2: Supply chain workers;

  • ESRS S3: Communities involved;

  • ESRS S4: Customers and consumers;

  • ESRS G1: Company practices.

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