Regulatory Briefing: EU’s ESG disclosures set high bar, says HSBC

The EU’s proposed sustainability reporting rules “set a high bar” and will “drive development of other frameworks globally”, according to an HSBC note following Efrag’s open consultation on the drafts.

HSBC says the new EU Sustainability Reporting Standards represent one of the most comprehensive disclosure requirements around the world and will underpin the EU’s broader sustainability goals; they will “set a high bar for sustainability disclosure and drive development of other frameworks globally”. Efrag, the European Financial Reporting Advisory Group, launched a consultation on the proposed standards earlier this month.