EU guidelines on non-financial reporting: ASCG to feed back on the Commission’s draft

The ASCG yesterday commented on the European Commission’s draft on climate-related disclosures (we reported)  in non-financial reports.

In agreement with the European Commission, the ASCG considers information on business risks to which companies are exposed as a result of climate change to be an important part of corporate reporting.

In this respect, the ASCG agrees with the Commission’s general aim to improve corporate reporting. However, the ASCG notes that the draft version of the guidelines in part goes beyond the requirements of the Accounting Directive and that their systematic approach may not be in line with the Directive, for example, regarding the users of the information and the reporting perspective. These issues may significantly jeopardise the Europe-wide acceptance of the amended guidelines.

For further details, please refer to the ASCG comments, the text of which can be downloaded here. (Note: The comments could only be submitted via a web-based input mask; we have made the text available to you in a more legible document).