Green groups slam EU’s freshly released ESG reporting rules

The EU commission’s ‘watering down’ of its sustainability reporting standards include not making all disclosure requirements compulsory and delaying the reporting of Scope 3 emissions for smaller companies.

The European Commission’s keenly anticipated proposals on sustainability reporting standards have been roundly criticised by environmental groups and sustainable finance experts, after their release on June 9. The EU executive has chosen to ignore the advice of its own advisers, opting not to make all disclosure requirements compulsory and to delay the reporting of downstream Scope 3 emissions for companies with fewer than 750 employees.