The Evolution of EU Sustainability Reporting
Europe has long been the trendsetter in policy and regulation around ESG. The Corporate Sustainability Reporting Directive (CSRD) is the latest in a line of EU policies to nudge the business community towards a more sustainable future.
The CSRD replaces the Non-Financial Reporting Directive (NFRD) and will require nearly 50’000 companies to enhance their sustainability reporting. For the first time, it will include large companies from outside the EU. In essence, the EU CSRD is becoming the de facto sustainability disclosure regulation for large companies globally.
These developments come on the back of other EU legislation around ESG, whether involving sustainable investment activities, corporate behaviour across the value and supply chain, or much more broadly across general business activity and the green transition.
With more and more of the European ESG framework now shaped by hard legislation, we argue that the function of public affairs around ESG will change. Instead of helping institutions to influence upcoming legislation or to engage on the right interpretation of soft legislation and voluntary initiatives, the role of public affairs will become more focused on internal advocacy and influencing.
This will bring with it a refocus of the knowledge and skills of public affairs practitioners.
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Peter de Graaf
Senior Advisor, ESG and Sustainability, based in London
Peter heads up the sustainability reporting work for Leidar and works across the offices in Geneva, Brussels and London. He has been involved in sustainability throughout a career that includes regulatory affairs, management consultancy and finance.
Managing Director / Deputy CEO, based in Geneva
Lukasz is Managing Director for Switzerland, Belgium and UK offices as well as deputy CEO for Leidar. He oversees key international client projects and relationships. In addition, he manages external partnerships and memberships of Leidar.