Today’s economy needs to undergo an urgent and radical transformation to achieve climate-neutrality and sustainability. To realise such a shift, we need high-quality data on environmental, social and governance (ESG) matters, as this data is the basis for sustainable decision-making. Companies are increasingly reporting on ESG matters. However, the relevance, quality and comparability of the reported information needs to improve in order to meet stakeholder expectations. Better non-financial information will improve the assessment of ESG risks and opportunities and will eventually lead to sustainable investments.
As a first step in this direction, Accountancy Europe recommends five steps to revise the Non-Financial Reporting Directive (NFRD) and strengthen non-financial reporting requirements.
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