IRSG joint position paper - Corporate Sustainability Reporting Directive and related Article 8 Taxonomy disclosures

Published 31 May 2022

The IRSG co-signed a letter on the Corporate Sustainability Reporting Directive (CSRD) on 21 April 2022, highlighting challenges that both EU and non-EU companies face with respect to the extraterritorial application of CSRD. With this joint letter, we wish to enhance interoperable international standards, promote transparency and comparability of disclosures as well as avoid fragmentation.

Identifying five main areas for refinement including:

1. EU and International Interoperability on Sustainability Reporting
2. Lack of CSRD Data Outside the EU and EU Taxonomy Reporting Challenges for non-EU Exposures
3. Mandatory Location of Sustainability Reporting and Assurance
4. Equivalence Mechanism and Transitional Period
5. EU and non-EU Sustainability Reporting on non-EU Exposures/Operations