EU Delays Sector-Specific ESG Rules for Two Years (2024)
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European Union (EU) legislators on January 24 introduced a proposal to delay ESG reporting rules for eight specific business sectors until 2026. The rules were initially scheduled to take effect this year. Supporters of the proposal argued that businesses needed more time to adjust to general ESG reporting standards under the EU's corporate sustainability reporting directive before the specific standards took effect:
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The European Parliament's legal affairs committee approved a draft proposal from the European Commission to delay eight sector standards by two years until June 2026. EU member state approval is also needed. The sectors cover oil and gas, mining, road transport, food, cars, agriculture, energy production and textiles. The aim is to give companies time to focus on implementing initial, broader ESG disclosures they must include in their annual reports for 2024 and onwards under the EU's corporate sustainability reporting directive (CSRD).[1] |
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- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
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Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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