New rules on corporate sustainability reporting

The Council and European Parliament have reached a provisional political agreement on the corporate sustainability reporting directive (CSRD), which aims to address shortcomings in the existing rules on disclosure of non-financial information, including environment, social and governance (ESG) issues. The European Parliament determined that current non-financial information was of “insufficient quality to allow it to be properly taken into account by investors” which they believe is hindering the transition to a sustainable economy. “This agreement is excellent news for all European consumers. They will now be better informed about the impact of business on human rights and the environment. This means more transparency