Eumedion calls for harmonised sustainability reporting
Sustainability reporting standards must be harmonised as soon as possible and made mandatory for European listed companies. Eumedion wants this project to become part of an updated action plan to further broaden and deepen the European Capital Market Union. This is one of the messages in Eumedion's response to the consultation of the 'Next CMU High-Level Group on the future of the European Capital Market Union. The response was submitted today.
Worldwide harmonisation of sustainability reporting standards brings clarity to companies that currently struggle what frameworks to use and have to deal with conflicting methodolgies. Investors will benefit from a reduction in unnecessary high variety of key performance indicators (KPIs), improved comparability and consistency. A credible framework will also make it easier for external auditors to provide reasonable assurance on the non-financial information, so says Eumedion in its response. Eumedion calls on the new European Commission to establish a Regulation to require all EU listed companies to prepare their management report and non-financial KPIs in accordance with a single set of international non-financial reporting standards.