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25 Oct 2022

37 civil society organisations

EU: NGOs urge Commission to stay committed to development & adoption of ambitious EU standards for corporate sustainability reporting

Dear Commissioner McGuinness,

In the last few weeks and months, strong pressure has been directed to the European Commission to slow down the pace and ambition of mandatory EU sustainability reporting standards (ESRS).

The undersigned 37 organisations, representing civil society and trade unions, urge the European Commissioner to stay committed to the development and adoption of an ambitious and urgent framework to improve and standardise corporate disclosure on sustainability matters in the EU. We are writing to decision-makers in order to dispel doubts and critiques that go against the mandate provided by co-legislators in the CSRD (Articles 19a and 29b).

  1. Sustainability risks and impacts are connected: a climate-first approach does not work, including for climate [...]
  2. A transparent process: groundless criticism of the draft proposal process [...]
  3. Feasibility and increased competitiveness: the business case for EU standards [...]
  4. The bigger picture: comprehensive and high quality corporate standards applied by 2024/2025 [...]

We appeal to the European Commission to uphold the legal mandate agreed in the CSRD and not give in to political pressure and narrow business interests that aim to hinder EU progress in the finalisation of much-awaited EU standards. The undersigned signatories oppose the prioritisation of certain sustainability matters over others, warn against an arbitrary reduction of disclosure requirements, and support international alignment but not at the cost of lowering EU's sustainability ambitions.