Sustainability News - January 2025

👉 ESMA Consultation

The European Securities and Markets Authority (ESMA/AEMF) published a consultation paper on December 13, seeking stakeholder feedback on how the European Single Electronic Format (ESEF) can be applied to sustainability reports.
Interested stakeholders are invited to submit their comments by March 31, 2025.

Source: ESMA, 13/12/2024

👉 European Law

Release of a new European regulation aimed at enhancing the reliability and comparability of environmental, social, and governance (ESG) ratings, notably through improved transparency and integrity in the activities conducted by ESG rating providers.

Regulation (EU) 2024/3005 of the European Parliament and of the Council, OJEU, 12/12/2024

👉 VSME Standards for SMEs

On December 17, EFRAG published its voluntary sustainability reporting standard for SMEs (VSME).
This publication marks an important step in simplifying and harmonizing ESG reporting for small and medium-sized enterprises that are not subject to the mandatory scope of the “CSRD” directive.

Voluntary Sustainability Reporting Standard, EFRAG, 12/17/2024

👉 EFRAG Q&A on ESRS (1)

EFRAG has released an updated compilation of technical explanations aimed at addressing stakeholders' technical questions about the ESRS standards. This update now includes a total of 157 explanations published between January and November 2024.
It is important to note that these explanations are non-binding and do not engage the European Commission.

Compilation of Technical Explanations, EFRAG, 12/06/2024

👉 EFRAG Q&A on ESRS (2)

EFRAG has released five new technical explanations addressing five environmental questions.
These explanations will be included in the next update of the Compilation of Technical Explanations, expected to be published in Spring 2025.

Publication of Technical Explanations, EFRAG, 12/17/2024

👉 AMF 2024 Report on Sustainability Reporting

The Autorité des Marchés Financiers (AMF) published its 2024 report on the sustainability reporting of listed companies on December 10.
This report provides an overview of the reviews conducted by the AMF on the non-financial performance statements (DPEF) of listed companies between 2023 and 2024.
It also offers educational insights on the upcoming implementation of the “CSRD” directive and its sustainability standards.

2024 Report on Sustainability Reporting, AMF, 12/10/2024

👉 AMF 2024 Study on Taxonomy Reporting

On December 10, the Autorité des Marchés Financiers (AMF) published a detailed analysis of the first alignment reports from seven French banks and insurers.
The 2024 report provides an overview of practices and the main challenges faced by these institutions in complying with regulatory requirements.

2024 Study on Taxonomy Reporting, AMF, 12/10/2024

👉 English Translation of Sustainability Audit Guidelines

The guidelines published by the High Authority for Audit (H2A) on October 2, 2024, are now available in English.
These guidelines outline the expected work of auditors and how they should present their conclusions, pending the adoption of the European standard for assurance engagements.

English Version of Sustainability Audit Guidelines, H2A, 10/12/2024