Statement of Cooperation signed between Global reporting Initiative and EFRAG
July 9, 2021 /3BL Media/ - The announcement of a Statement of Cooperation between GRI and the European Financial Reporting Advisory Group (EFRAG) Project task Force sees both organizations agree to share technical expertise to co-construct new EU sustainability reporting standards and contribute to further global convergence.
New corporate sustainability legislation would expand disclosure
May 4, 2021 /3BL Media/ - Global Reporting Initiative (GRI) has welcomed that the European Commission is maintaining its ambition to achieve progress in corporate transparency on sustainability impacts, following publication of the proposed new Corporate Sustainability Reporting Directive (CSRD).
Plans for EFRAG to broaden role requires establishment of a professional sustainability standard setting function
As part of the European Commission review of the Non-financial Reporting Directive (NFRD), it is exploring how new European sustainability standards could be created and managed.
The Commission has asked the European Financial Reporting Advisory Group (EFRAG) to consider the changes needed to its governance, if it were to take on responsibility for creating non-financial reporting standards. Until now, EFRAG’s remit has been to advise on financial standards only.