The EU approach
The Corporate Sustainability Reporting Directive (CSRD) came into effect on 5 January 2023 and requires companies to disclose information on both the financial implications of social and environmental risks, opportunities and the impact of their activities on people and the environment (a double materiality test) in accordance with the European Sustainability Reporting Standards (ESRS) developed by an indepfinishent body and tailored to EU policies.
However, the CSRD has not been without controversy and challenge, leading to the Council and the European Parliament reachin…
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