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EU Delays ESG Reporting to 2024, Covers Foreign Companies

June 22, 2022, 4:58 PM

Mandatory sustainability reporting by European companies has been pushed back by a year to 2024, under a provisional agreement that will see foreign companies active in the region also forced into comprehensive reporting.

The agreement also will let European Union countries accredit independent certification companies to review sustainability reports, in an effort to dilute big audit firms’ market power.

“It is a historic moment in the development of company reporting: for the first time ever, sustainability reporting will be on an equal footing with financial reporting,” Mairead McGuinness, European commissioner for financial services, said at a press ...