{"id":14158,"date":"2023-10-18T11:29:40","date_gmt":"2023-10-18T11:29:40","guid":{"rendered":"https:\/\/www.esgtoday.com\/?p=14158"},"modified":"2023-10-18T18:49:10","modified_gmt":"2023-10-18T18:49:10","slug":"eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years","status":"publish","type":"post","link":"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/","title":{"rendered":"EU Commission to Delay Adoption of Sustainability Reporting Standards by 2 Years"},"content":{"rendered":"\n
\n <\/div>\n\n\n\n

Proposals would postpone sector-specific and non-EU company sustainability reporting rules<\/h2>\n\n\n\n

The European Commission announced plans to delay key aspects of its Corporate Sustainable Reporting Directive (CSRD), including the adoption of requirements for companies to provide sector-specific sustainability disclosures and for sustainability reporting from companies outside of the EU.<\/p>\n\n\n\n

The announcement was made as part of the Commission\u2019s release of its 2024 Commission Work Programme, which sets out its list of actions it will take over the upcoming year. One of the 2024 programme\u2019s priorities includes the reporting burden for companies associated with reporting requirements, with the Commission including the postponement of the deadline for the adoption of sector-specific European Sustainability Reporting Standards (ESRS) as one of the key actions listed.<\/p>\n\n\n\n

The ESRS sets out the rules and requirements for companies to report on sustainability-related impacts, opportunities and risks under the EU\u2019s upcoming CSRD, which remains on track to begin applying from the beginning of 2024.<\/p>\n\n\n\n

The first set of ESRS rules, which were adopted by the Commission<\/a> in July 2023, set out sector-agnostic sustainability reporting requirements, while the CSRD subsequently required the adoption of sector-specific ESRS by the end of June 2024, outlining sustainability information for companies to report relating to the industries in which they operate.<\/p>\n\n\n\n

According to a proposal released alongside the work programme, the Commission is aiming to postpone the adoption date for the sector-specific ESRS by two years.<\/p>\n\n\n\n

The CSRD also included a requirement for large non-EU companies that operate in the EU to provide sustainability reporting, with ESRS adoption of rules applying to these businesses also scheduled for the end of June 2024, and with reporting requirements to begin in 2028. Under the new proposal, the Commission also recommended delaying the adoption of these rules by 2 years.<\/p>\n\n\n\n

According to the Commission\u2019s proposal, the postponement of each of these rules will fulfill objectives including \u201callowing companies to focus on the implementation of the first set of ESRS,\u201d \u201censure that EFRAG has time to develop sectoral ESRS that are efficient,\u201d and \u201climit the reporting requirements to the minimum necessary.\u201d<\/p>\n\n\n\n

The Commission\u2019s work programme for 2024 also listed several sustainability and climate-related actions, particularly related to the EU Green Deal, which it included as one of the EU\u2019s headline ambitions. Proposals in the plan include launching the process to establish a 2040 climate target, presenting the European wind power package aimed at accelerating the deployment of wind turbines, launch an initiative on industrial carbon management including a strategy for sustainable carbon capture, utilization and storage (CCUS), and adopt an initiative on water resilience.<\/p>\n\n\n\n

The Commission also urged the finalization on remaining proposals under the green deal initiative, including areas such as sustainable farming and food security, circular economy proposals including the ecodesign requirements for sustainable products, waste and packaging, and on bringing into law proposals on nature restoration, classification, labelling and packaging of chemicals, air quality, urban wastewater treatment, and surface and groundwater protection.<\/p>\n\n\n\n

Click here<\/a> to access the 2024 Commission Work Programme.<\/p><\/span>","protected":false},"excerpt":{"rendered":"

Proposals would postpone sector-specific and non-EU company sustainability reporting rules The European Commission announced plans to delay key aspects of its Corporate Sustainable Reporting Directive (CSRD), including the adoption of requirements for companies to provide sector-specific sustainability disclosures and for sustainability reporting from companies outside of the EU. The announcement was made as part of […]<\/p>\n","protected":false},"author":2,"featured_media":14159,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[37,31],"tags":[],"acf":[],"yoast_head":"\nEU Commission to Delay Adoption of Sustainability Reporting Standards by 2 Years - ESG Today<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU Commission to Delay Adoption of Sustainability Reporting Standards by 2 Years - ESG Today\" \/>\n<meta property=\"og:description\" content=\"Proposals would postpone sector-specific and non-EU company sustainability reporting rules The European Commission announced plans to delay key aspects of its Corporate Sustainable Reporting Directive (CSRD), including the adoption of requirements for companies to provide sector-specific sustainability disclosures and for sustainability reporting from companies outside of the EU. The announcement was made as part of […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/\" \/>\n<meta property=\"og:site_name\" content=\"ESG Today\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ESGToday\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-18T11:29:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-18T18:49:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2023\/10\/EU-flags-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mark Segal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@EsgToday\" \/>\n<meta name=\"twitter:site\" content=\"@EsgToday\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark Segal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/\"},\"author\":{\"name\":\"Mark Segal\",\"@id\":\"https:\/\/www.esgtoday.com\/#\/schema\/person\/cca7a2b05e3a06d096e5740fb1433a01\"},\"headline\":\"EU Commission to Delay Adoption of Sustainability Reporting Standards by 2 Years\",\"datePublished\":\"2023-10-18T11:29:40+00:00\",\"dateModified\":\"2023-10-18T18:49:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/\"},\"wordCount\":502,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.esgtoday.com\/#organization\"},\"articleSection\":[\"ESG Reporting\",\"Government\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/\",\"url\":\"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/\",\"name\":\"EU Commission to Delay Adoption of Sustainability Reporting Standards by 2 Years - ESG Today\",\"isPartOf\":{\"@id\":\"https:\/\/www.esgtoday.com\/#website\"},\"datePublished\":\"2023-10-18T11:29:40+00:00\",\"dateModified\":\"2023-10-18T18:49:10+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.esgtoday.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"EU Commission to Delay Adoption of Sustainability Reporting Standards by 2 Years\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.esgtoday.com\/#website\",\"url\":\"https:\/\/www.esgtoday.com\/\",\"name\":\"ESG Today\",\"description\":\"ESG investing news, analysis, research and information\",\"publisher\":{\"@id\":\"https:\/\/www.esgtoday.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.esgtoday.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.esgtoday.com\/#organization\",\"name\":\"ESG Today\",\"url\":\"https:\/\/www.esgtoday.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.esgtoday.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2023\/05\/ESG-Today-Logo.png\",\"contentUrl\":\"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2023\/05\/ESG-Today-Logo.png\",\"width\":618,\"height\":350,\"caption\":\"ESG Today\"},\"image\":{\"@id\":\"https:\/\/www.esgtoday.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/ESGToday\/\",\"https:\/\/twitter.com\/EsgToday\",\"https:\/\/www.linkedin.com\/company\/esg-today\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.esgtoday.com\/#\/schema\/person\/cca7a2b05e3a06d096e5740fb1433a01\",\"name\":\"Mark Segal\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.esgtoday.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/68fbfd7923e36d210feb00a7621096af?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/68fbfd7923e36d210feb00a7621096af?s=96&d=mm&r=g\",\"caption\":\"Mark Segal\"},\"description\":\"Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm\u2019s head of U.S. equities. While at DCM, Mark was part of the firm\u2019s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.\",\"url\":\"https:\/\/www.esgtoday.com\/author\/mo-segal9\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"EU Commission to Delay Adoption of Sustainability Reporting Standards by 2 Years - ESG Today","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/","og_locale":"en_US","og_type":"article","og_title":"EU Commission to Delay Adoption of Sustainability Reporting Standards by 2 Years - ESG Today","og_description":"Proposals would postpone sector-specific and non-EU company sustainability reporting rules The European Commission announced plans to delay key aspects of its Corporate Sustainable Reporting Directive (CSRD), including the adoption of requirements for companies to provide sector-specific sustainability disclosures and for sustainability reporting from companies outside of the EU. The announcement was made as part of […]","og_url":"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/","og_site_name":"ESG Today","article_publisher":"https:\/\/www.facebook.com\/ESGToday\/","article_published_time":"2023-10-18T11:29:40+00:00","article_modified_time":"2023-10-18T18:49:10+00:00","og_image":[{"width":1024,"height":768,"url":"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2023\/10\/EU-flags-2.jpg","type":"image\/jpeg"}],"author":"Mark Segal","twitter_card":"summary_large_image","twitter_creator":"@EsgToday","twitter_site":"@EsgToday","twitter_misc":{"Written by":"Mark Segal","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/#article","isPartOf":{"@id":"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/"},"author":{"name":"Mark Segal","@id":"https:\/\/www.esgtoday.com\/#\/schema\/person\/cca7a2b05e3a06d096e5740fb1433a01"},"headline":"EU Commission to Delay Adoption of Sustainability Reporting Standards by 2 Years","datePublished":"2023-10-18T11:29:40+00:00","dateModified":"2023-10-18T18:49:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/"},"wordCount":502,"commentCount":0,"publisher":{"@id":"https:\/\/www.esgtoday.com\/#organization"},"articleSection":["ESG Reporting","Government"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/","url":"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/","name":"EU Commission to Delay Adoption of Sustainability Reporting Standards by 2 Years - ESG Today","isPartOf":{"@id":"https:\/\/www.esgtoday.com\/#website"},"datePublished":"2023-10-18T11:29:40+00:00","dateModified":"2023-10-18T18:49:10+00:00","breadcrumb":{"@id":"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.esgtoday.com\/eu-commission-to-delay-adoption-of-sustainability-reporting-rules-by-2-years\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.esgtoday.com\/"},{"@type":"ListItem","position":2,"name":"EU Commission to Delay Adoption of Sustainability Reporting Standards by 2 Years"}]},{"@type":"WebSite","@id":"https:\/\/www.esgtoday.com\/#website","url":"https:\/\/www.esgtoday.com\/","name":"ESG Today","description":"ESG investing news, analysis, research and information","publisher":{"@id":"https:\/\/www.esgtoday.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.esgtoday.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.esgtoday.com\/#organization","name":"ESG Today","url":"https:\/\/www.esgtoday.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.esgtoday.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2023\/05\/ESG-Today-Logo.png","contentUrl":"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2023\/05\/ESG-Today-Logo.png","width":618,"height":350,"caption":"ESG Today"},"image":{"@id":"https:\/\/www.esgtoday.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ESGToday\/","https:\/\/twitter.com\/EsgToday","https:\/\/www.linkedin.com\/company\/esg-today\/"]},{"@type":"Person","@id":"https:\/\/www.esgtoday.com\/#\/schema\/person\/cca7a2b05e3a06d096e5740fb1433a01","name":"Mark Segal","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.esgtoday.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/68fbfd7923e36d210feb00a7621096af?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/68fbfd7923e36d210feb00a7621096af?s=96&d=mm&r=g","caption":"Mark Segal"},"description":"Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm\u2019s head of U.S. equities. While at DCM, Mark was part of the firm\u2019s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.","url":"https:\/\/www.esgtoday.com\/author\/mo-segal9\/"}]}},"builder_content":"","_links":{"self":[{"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/posts\/14158"}],"collection":[{"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/comments?post=14158"}],"version-history":[{"count":0,"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/posts\/14158\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/media\/14159"}],"wp:attachment":[{"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/media?parent=14158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/categories?post=14158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/tags?post=14158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}