News

8 October 2020

Accountancy Europe welcomes EU sustainable corporate governance initiative

Environmental and social risks significantly impact all our lives. Accountancy Europe welcomes the EU initiative to further embed sustainability into the EU corporate governance framework and provided feedback on its roadmap. To deliver on the Paris Agreement and the EU Green Deal, businesses need to become accountable for their impacts on the environment and society.

Sustainable finance has a key role to play in the transition. Clear, consistent, and evenly enforced legislation across countries is key to ensure that sustainability is fully embedded into corporate decision making.

Thought leadership ideas 1 year ahead of EU action

The economy needs to change radically to achieve climate neutrality and sustainability. In June 2019, 10 ideas to make corporate governance a driver of a sustainable economy already highlighted the instrumental role of corporate governance in changing the system.

We are happy to see that the EC roadmap on sustainable corporate governance  covers many of the ideas this publication had presented 1 year ahead. Our feedback recommends the following points for the EC to even further improve its sustainable corporate governance legislation:

  1. Integrate sustainable value creation into the board’s duties
  2. Set effective mechanisms to verify due diligence disclosures on the environment and human rights
  3. Expand the legislative scope to all companies that significantly impact the environment and society, regardless of their size
  4. Align non-financial information (NFI) reporting with sustainable corporate governance

What accountants can do for sustainable corporate governance?

Professional accountants play a crucial role in their different capacities at all stages of corporate governance. As good business decisions start with reliable information, accountants contribute by measuring impacts, disclosing information, and adding credibility to what is reported. Auditors can add value by providing assurance on corporate governance, internal controls, and sustainability reporting.

We will keep contributing Accountancy Europe’s expertise and thought leadership to advancing the EU ambitious agenda for climate neutrality and sustainability.

Related content

EventThe path to high-quality non-financial information assurance

26 November 2020

EventSmall in size, big in impact: Can NFI work for SMEs?

19 November 2020

EventMembers’ Webinar Series

21 October 2020

UpdateSustainable Finance

16 October 2020

Consultation responseEC’s public consultation on the Energy Tax Directive

15 October 2020

EventImplementing ESEF

12 October 2020

UpdateTax Policy

9 October 2020

Consultation responseEC roadmap on sustainable corporate governance

8 October 2020

Consultation responseEC’s consultation on the establishment of an EU Green Bond Standard. 

5 October 2020

Podcast Accountants & the fight against financial crime (Part 2)

2 October 2020

UpdateTax Policy

25 September 2020

UpdateSME Update

24 September 2020

NewsAccountancy Europe welcomes cooperation by sustainability reporting bodies

23 September 2020

UpdateAudit Policy

21 September 2020

Consultation responseEC’s roadmap on obligation for companies to publish non-financial information

18 September 2020

Podcast The EU & the fight against financial crime (Part 1)

18 September 2020

UpdateTax Policy

11 September 2020

BlogWhat COVID-19 made clear: corporate governance needs to focus on the right risks

8 September 2020

Consultation responseEC’s consultation on the VAT scheme for travel agents

2 September 2020

UpdateTax Policy

1 September 2020

Sign up for our newsletter

* indicates required
Would you like to subscribe to our newsletter?
On which topics would you like to receive news?