Smart implementation of EU sustainability reporting standards: make complying with rules easy

With Europe’s sustainability transition at a crossroads, over 90 organisations representing civil society, business, banks and investor interests, have joined forces to publicly respond to the recent announcement from President von der Leyen regarding the EU sustainability reporting rules and an Omnibus proposal.

At a moment where European leaders are seeking to boost competitiveness and attract major financing to support companies’ sustainability transition, the statement shared with EU and national policy-makers emphasises: 

• The role of the EU sustainability legal framework as a catalyst for economic transformation
• Companies’ need for legal certainty over short-sighted political reactions
• The importance of promoting a pragmatic implementation that prevents over-compliance approaches
• The risk-based nature and built-in flexibility of the EU standards 
• The need to protect the EU market and level the playing field globally 

We strongly encourage policymakers to focus on supporting a smart and easy implementation of EU sustainability reporting standards, instead of playing ping-pong with the legal framework.