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Business & Practice
Sept. 5, 2023, 8:14 PM


EUROPEAN ESG REPORTING COMPATIBLE WITH INTERNATIONAL STANDARDS

By Michael Kapoor

Michael Kapoor
Freelance Correspondent

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European Sustainability Reporting Standards will be compatible with other
international reporting standards, rulemakers said Tuesday, avoiding the need
for companies to report against several different sets of rules.

The European Financial Reporting Advisory Group and the Global Reporting
Initiative said in a joint statement that the two bodies had “achieved a high
level of interoperability” between their standards, avoiding the need for double
reporting. EFRAG’s European rules take effect from next year, with large
companies required to report on the full range of environmental, social and
governance issues. GRI’s voluntary ESG reporting rules are used by around 10,000
companies worldwide, ...


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