EU Final Report on Guidelines on Enforcement of Sustainability Information

The European Securities and Markets Authority has published a final report on the guidelines on enforcement of sustainability information and a public statement on the first application of the European Sustainability Reporting Standards. The documents aim to support the consistent application and supervision of sustainability reporting requirements introduced under the EU Corporate Sustainability Reporting Directive.

The Guidelines were mandated under the EU Transparency Directive as amended by CSRD and are designed to build convergence on supervisory practices on sustainability reporting. ESMA has aimed to align them with the existing Guidelines on Enforcement of Financial Information, to ensure that enforcement of sustainability information is consistent with enforcement of financial information and is held to be on a par with such information.

The Standards specify the information that firms subject to the EU Accounting Directive, as amended by CSRD, should report in accordance with sustainability reporting requirements. Through the public statement on the first-time application of the Standards, ESMA intends to support large issuers with the implementation of these new reporting requirements. ESMA will continue to monitor the sustainability reporting practices in 2025 as well as the application of the Guidelines. ESMA will translate the Guidelines into all EU languages and make these translations available on its website. In addition, ESMA will release in Q4 recommendations on the sustainability statements of listed companies in its public statement on the 2024 European Common Enforcement Priorities.

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