ESMA issues its first opinion on the draft European Sustainability Reporting Standards

ESMA issues its first opinion on the draft European Sustainability Reporting Standards

Metadata

Provider: 

ESMA

URL: 

https://www.esma.europa.eu/press-news/esma-news/esma-issues-its-first-opinion-draft-european-sustainability-reporting

Retrieved on: 

Friday, January 27, 2023

Information

Tags: 

EBA, European Financial Reporting Advisory Group, EIOPA, Commission, European Securities and Markets Authority, ESMA, EFRAG, Terminology, Royal commission, Dungeon Planner Set 1: Caverns of the Dead, European Commission, Chair, Legislation, Corporate sustainability, Disclosure, Audit, Risk management, Renewable energy, EU

Summary

Key Points: 

• ESMA issues its first opinion on the draft European Sustainability Reporting Standards
  The European Securities and Markets Authority, the EU’s financial markets regulator and supervisor, has issued an opinion on the first set of draft European Sustainability Reporting Standards (ESRS Set 1) developed by the European Financial Reporting Advisory Group (EFRAG).
• ESMA finds that ESRS Set 1 broadly meets the objective of being conducive to investor protection and of not undermining financial stability.
• To bring Set 1 from broadly capable to fully capable of meeting that objective, ESMA advises the European Commission to address selected technical issues set out in the opinion.
• The European Commission will consider ESMA’s technical input as it finalises ESRS Set 1 and adopts it into delegated acts.

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