EU Must Maintain Core ESG Reporting, Say Accountants and Firms

More than 300 accounting organizations, investors, and companies including IKEA and Nokia, have called on the European Union to not dilute environmental, social, and governance reporting too aggressively as it works on simplifying its disclosure rules, a leading standard-setter said Monday.

The Global Reporting Initiative said in a press release that 323 entities had signed a public statement calling on EU policymakers to maintain core reporting principles such as double materiality, which would require companies to report on the damage they cause to the environment as well as the financial risks they face from issues such as climate change. ...