The case for CSR/ Sustainability Reporting Done Responsibly


IDENTIFY - MEASURE - MANAGE - CHANGE

Insights on how you can protect the environment, maintain and increase the value of your company, through a structured process.

Insights on how you can protect the environment, maintain and increase the value of your company, through a structured process.

Home / news / Sustainability reporting at centre of EU’s 1 trillion euro Green Deal

Sustainability reporting at centre of EU’s 1 trillion euro Green Deal

Quality disclosure requirements are critical to Europe’s 1 trillion sustainable investment plan  Tweet This!

Global Reporting Initiative welcomes the European Green Deal as a global game changer that other economies should follow. With ambitious legislative changes backed by €1 trillion investment over the next decade, the EU is signalling leadership in efforts to advance sustainable development and tackle climate change.

European Commission Executive Vice-President Valdis Dombrovskis recently provided details on the implementation of the Green Deal Investment Plan – including strengthening sustainability reporting by companies. He set out that:

  • The EU’s Non-Financial Reporting Directive is to be reviewed, with new requirements for companies to increase disclosures on sustainability risks and opportunities      
  • The EU will establish “clear reporting standards” based on the “best and most widely accepted elements of what exists”
  • The Green Deal has to be part of wider global efforts and funding commitments in order to “scale up sustainable finance at the level that the world needs”

GRI chief executive Tim Mohin said:

“Sustainable development is a singular and indisputable global priority. One important catalyst to a sustainable future is transparency: the ability for all stakeholders to evaluate the impacts and benefits of corporate activities. Sustainability disclosure was pioneered by GRI over twenty years ago and now is a fixture in nearly every multinational enterprise.

But more must be done. We are just ten years from the deadlines to achieve the Sustainable Development Goals and need to accelerate progress under the Paris Climate Agreement. I applaud the leadership shown by the European Commission, which is now moving with urgency by committing €1 trillion to fund the transition.

While the EU Non-Financial Reporting Directive has been successful, we believe reporting must improve. We stand ready to work with the EU to cooperate on these improvements, but we must not reinvent nor move backwards.

With these actions, the EU is providing leadership for the world. We need to support the global common language for reporting, backed by strong policy and oversight. This will unlock trade and investment that is aligned with sustainable development.”

 

 

 

 

 

80% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.



FBRH GRI Standards Certified and IEMA approved Sustainability Course | Venue: London LSE

By registering for the next 2-day FBRH GRI-Standards Certified and IEMA approved Course you will be taking the first step in gaining the many benefits of sustainability reporting.

 

References:

This article is based on published information by GRI. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the publication’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.globalreporting.org/information/news-and-press-center/Pages/Sustainability-reporting-at-center-of-EUs-Green-Deal.aspx

X