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

EventBecause Green Recovery Counts

27 January 2022

UpdateSustainability

14 January 2022

UpdateSustainability

9 December 2021

In the mediaSustainability reporting: why should SMEs care?

3 December 2021

EventHow to build a credible green bond market

1 December 2021

NewsSustainability will never do without governments

26 November 2021

Consultation responseEU Taxonomy and Article 8 Delegated Act implementation need clarity

17 November 2021

Consultation responseIASB’s Exposure Draft: Management Commentary and EFRAG’s Draft Comment Letter

15 November 2021

NewsTime to deliver on high quality sustainability reporting

12 November 2021

UpdateSustainability

4 November 2021

PublicationFAQs on sustainability information assurance

3 November 2021

Podcast There’s no creation like co-creation: sustainability reporting standards

28 October 2021

EventAccountancy Europe and WBA joint expert meeting on sustainability reporting standards

21 October 2021

EventMembers’ Engagement Day

20 October 2021

EventEarly Warning Europe Day

28 September 2021

NewsReporting Beyond the Financials: Sustainability on the Books

24 September 2021

Consultation responseEC’s proposal of an EU standard for green bonds

22 September 2021

Team memberChara Georgiou

17 September 2021

UpdateSustainability

14 September 2021

Consultation responseEFRAG’s consultation paper – due process procedures for EU sustainability reporting standard-setting

14 September 2021

Sign up for our newsletter

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