However, to avoid an unnecessary administrative burden, such undertakings should have the possibility of reporting some of the information required by Article20 of Directive 2013/34/EU alongside other sustainability information. In its resolution of 25September 2015 entitled Transforming our world: the 2030 Agenda for Sustainable Development (the 2030 Agenda) the United Nations (UN) General Assembly adopted a new global sustainable development framework. For example, information about employees skills, competences, experience, loyalty to the undertaking and motivation for improving processes, goods and services, is sustainability information regarding social matters that could also be considered as information on intangible resources. Article7 of Regulation (EU) No537/2014 shall apply mutatis mutandis to a statutory auditor or an audit firm carrying out the assurance of sustainability reporting of a public-interest entity.; Assurance standards for sustainability reporting. To realise such benefits, the sustainability information disclosed in the annual reports of undertakings first has to reach two primary groups of users. The management of the parent undertaking shall inform the workers representatives at the appropriate level and discuss with them the relevant information and the means of obtaining and verifying sustainability information. The auditor should also assess whether the undertakings reporting complies with the reporting requirements of Article8 of Regulation (EU) 2020/852. 8. Where applicable, an assurance opinion on sustainability reporting shall be provided in accordance with point (aa) of the second subparagraph of Article34(1) and Article34(2) to (5) of Directive 2013/34/EU. 38). (*25)Directive 2006/43/EC of the European Parliament and of the Council of 17May 2006 on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and83/349/EEC and repealing Council Directive 84/253/EEC (OJL157, 9.6.2006, p.87).;". (35)Directive 2006/43/EC of the European Parliament and of the Council of 17May 2006 on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and83/349/EEC and repealing Council Directive 84/253/EEC (OJL157, 9.6.2006, p.87). Article19a(1) and Article29a(1) of Directive 2013/34/EU require undertakings to include in their non-financial reporting references to, and additional explanations of, amounts reported in the annual financial statements. 5. In its communication of 11December 2019 entitled The European Green Deal (theGreenDeal), the European Commission made a commitment to review the provisions concerning non-financial reporting of Directive 2013/34/EU of the European Parliament and of the Council(3). The increase in demand for sustainability information is also driven by the growth in investment products that explicitly seek to meet certain sustainability standards or achieve certain sustainability objectives and to ensure coherence with the ambition of the Paris Agreement under the United Nations Framework Convention on Climate Change adopted on 12December 2015 (the Paris Agreement), the UN Convention on Biological Diversity and Union policies. (7)Regulation (EU) 2019/2089 of the European Parliament and of the Council of 27November 2019 amending Regulation (EU) 2016/1011 as regards EU Climate Transition Benchmarks, EU Paris-aligned Benchmarks and sustainability-related disclosures for benchmarks (OJL317, 9.12.2019, p.17). Therefore, there is no need to maintain such different treatment of policies in that Directive. It shall not affect the validity of any delegated acts already in force.; 3b. (*20)Commission Delegated Regulation (EU) 2019/815 of 17December 2018 supplementing Directive 2004/109/EC of the European Parliament and of the Council with regard to regulatory technical standards on the specification of a single electronic reporting format (OJL143, 29.5.2019, p.1).;". Investors are unable to take sufficient account of sustainability-related risks and opportunities in their investment decisions. Die Richtlinie fordert u. a. detaillierte Angaben zu #Energieverbrauch , #Treibhausgasemissionen WebWith its work on a new Corporate Sustainability Reporting Directive (CSRD) the European Commission seeks to increase the number of companies that will have to This creates an accountability deficit and could lead to lower levels of citizen trust in businesses, which in turn could have negative impacts on the efficient functioning of the social market economy. By 31December 2028, the Commission should review and report on the level of concentration of the sustainability assurance market. Sustainability reporting standards should specify disclosures concerning value chains that are proportionate and relevant to the scale and complexity of the activities of the undertakings, and the capacities and characteristics of undertakings in value chains, especially those capacities and characteristics of undertakings that are not subject to the sustainability reporting requirements provided for in this amending Directive. In addition, Member States should be given the option of allowing a statutory auditor, other than the one(s) carrying out the statutory audit of the financial statements, to express an assurance opinion on sustainability reporting. Where applicable, the information referred to in paragraphs 1 and2 shall also contain references to, and additional explanations of, the other information included in the management report in accordance with Article19, and the amounts reported in the annual financial statements. Directive 2004/109/EC assigns to national supervisors the task of enforcing compliance with corporate reporting requirements by undertakings whose securities are admitted to trading on a regulated market in the Union. 1. The subsidiary undertaking or branch of a third-country undertaking should also be able to report in accordance with the standards applying to undertakings established in the Union, or in accordance with standards which are deemed equivalent pursuant to an implementing act. These requirements should feed into the work on digitalisation announced by the Commission in its Communication of 19February 2020 entitled A European strategy for data and in its Communication of 24September 2020 entitled Digital Finance Strategy for the EU. 3. It is necessary, however, to ensure that sustainability information is easily accessible for users, and to ensure that there is transparency as regards which parent undertaking of the exempted subsidiary undertaking is reporting at group level. (*13)Commission Delegated Regulation (EU) 2020/1816 of 17July 2020 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council as regards the explanation in the benchmark statement of how environmental, social and governance factors are reflected in each benchmark provided and published (OJL406, 3.12.2020, p. 2. 1). Member States shall determine how such reference is to be made. 17). Such measures shall, where appropriate, include carrying out additional assurance work, either directly or by outsourcing such tasks, in the relevant subsidiary. The statutory auditor shall deliver the opinion and statement on the management report referred to in points (a) and (b) of the second subparagraph of Article34(1) and in Article34(2) of Directive 2013/34/EU. The 2030 Agenda has at its core the UN Sustainable Development Goals (SDGs) and covers the three dimensions of sustainability: economic, social and environmental. Common sustainability reporting standards are also necessary to enable the assurance and digitalisation of sustainability reporting and to facilitate its supervision and enforcement. Considering the growing relevance of sustainability-related risks and taking into account that small and medium-sized undertakings whose securities are admitted to trading on a regulated market in the Union comprise a significant proportion of all undertakings whose securities are admitted to trading on a regulated market in the Union, in order to ensure investor protection, it is appropriate to require that also small and medium-sized undertakings, except micro undertakings, whose securities are admitted to trading on a regulated market in the Union disclose information on sustainability matters. Increasingly, however, such information does have financial relevance. A digital taxonomy for the Union sustainability reporting standards will be necessary to allow the reported information to be tagged in accordance with those sustainability reporting standards. The exemption laid down in paragraph 8 shall also apply to public-interest entities subject to the requirements of this Article, with the exception of large undertakings which are public-interest entities defined in point (a) of point (1) of Article2 of this Directive.; 1. Regulation (EU) No537/2014 is amended as follows: in Article4(2), the second subparagraph is replaced by the following: For the purposes of the limits specified in the first subparagraph of this paragraph, the assurance of sustainability reporting, and non-audit services other than those referred to in Article5(1), required by Union or national legislation, shall be excluded.; in paragraph 1, second subparagraph, point (c) is replaced by the following: bookkeeping and preparing accounting records and financial statements as well as preparing sustainability reporting;; in paragraph 4, the following subparagraph is inserted after the first subparagraph: The approval of the audit committee referred to in the first subparagraph shall not be needed for the provision of assurance of sustainability reporting.. Januar 2023 trat die #CSRD auf EU-Ebene in Kraft. review the role, resources and expertise of their legal and compliance functions, who should play a key part in addressing the new challenges of this legislation. To aid usability of the information provided, the disclosures will be required to be reported in XHTML format. As required by Article2 of Directive 2014/95/EU, on 5July 2017, the Commission adopted a Communication entitled Guidelines on non-financial reporting (methodology for reporting non-financial information) (Guidelines on non-financial reporting), providing for non-binding guidelines for undertakings that fall under the scope of that Directive. Sustainability reporting standards for small and medium-sized undertakings shall take into account the criteria set out in Article29b(2) to (5). Information about relationships with suppliers includes payment practices relating to the date or period for payment, the rate of interest for late payment or the compensation for recovery costs referred to in Directive 2011/7/EU of the European Parliament and of the Council(31). The Council agreed its position (general approach) on the European Commission proposal for a corporate sustainability reporting directive (CSRD). There has been a very significant increase in demand for corporate sustainability information in recent years, especially on the part of the investment community. Such information should cover the role of an undertakings administrative, management and supervisory bodies with regard to sustainability matters, the expertise and skills needed to fulfil that role or the access such bodies have to such expertise and skills, whether the company has a policy in terms of incentives which are offered to members of those bodies and which are linked to sustainability matters, and information on an undertakings internal control and risk management systems in relation to the sustainability reporting process. In November 2022, the European Council (EC) and the European Parliament approved the final text of the Corporate Sustainability Reporting Directive (CSRD), which will require sustainability reporting far beyond what most companies provide today and will apply to a substantial number of companies that previously were not subject to Many stakeholders consider the term non-financial to be inaccurate, in particular because it implies that the information in question has no financial relevance. 2. The statutory auditor or the audit firm may continue to carry out the assurance of sustainability reporting of the public-interest entity only if he, she or it can justify, in accordance with Article22b, that the provision of such services does not affect his, her or its professional judgement and the assurance report on sustainability reporting. For reasons of coherence, it is appropriate to use a similar classification to identify the environmental factors that should be addressed by sustainability reporting standards. The different treatment of disclosures on the policies that undertakings may have, compared to the other reporting areas included in those Articles, has created confusion among reporting undertakings and has not helped to improve the quality of the reported information. Undertakings which are exempted from preparing a management report in accordance with Article37 shall not be obliged to provide the information referred to in points (a)(i) to (iii) of the second subparagraph of this paragraph, provided that such undertakings publish the consolidated management report in accordance with Article37. (*8)Regulation (EU) 2021/1119 of the European Parliament and of the Council of 30June 2021 establishing the framework for achieving climate neutrality and amending Regulations (EC) No401/2009 and (EU) 2018/1999 (European Climate Law) (OJL243, 9.7.2021, p. (*27)Directive 2014/65/EU of the European Parliament and of the Council of 15May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJL173, 12.6.2014, p.349).;". Member States should ensure that when an undertaking is required by Union law to have elements of its sustainability reporting verified by an accredited independent third party, the report of the accredited independent third party should be made available either as an annex to the management report or by any other publicly accessible means. Other stakeholders might also make use of sustainability information disclosed in annual reports, in particular to foster comparability across and within market sectors. 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