EIOPA issues its opinion on draft standards governing corporate sustainability disclosures

EIOPA issues its opinion on draft standards governing corporate sustainability disclosures. EIOPA has published its Opinion on the EFRAG’s technical advice concerning European Sustainability Reporting Standards (ESRS) following the request of the EC. In this first Opinion, EIOPA assesses whether the draft ESRS promote the disclosure of high-quality material sustainability information, whether the standards facilitate interoperability with other EU legislation and global standards, and, finally, whether they are conducive to a consistent and proportionate application by undertakings. Overall, EIOPA considers that the draft ESRS meet the above objectives even though some aspects can be enhanced upon.