In our new study of 1,000 European companies, we track EU Taxonomy reporting across turnover, capital expenditure, and operational expenditure. In 2023, average taxonomy-aligned turnover reached 10% (up from 8% in 2022), while CapEx and OpEx increased to 14% and 10%, respectively, compared to the prior year’s 12% and 9%. Though steady progress is made from 2022 to 2023, significant sectoral…
EFRAG Releases Sustainability Reporting Standard for Small Companies
The European Financial Reporting Advisory Group (EFRAG) announced the release of its voluntary sustainability reporting standard for non-listed SMEs (VSME), aimed at enabling micro-, small- and medium-sized companies to report on ESG issues in a simplified and consistent way. EFRAG, a private association majority financed by the EU, was mandated by the European Commission in June 2020 to prepare for…
UK Advisory Committee Calls for Adoption of IFRS Sustainability Reporting Standards
The government-mandated UK Sustainability Disclosure Technical Advisory Committee (TAC) announced today the publication of its recommendations to endorse the IFRS Foundation’s International Sustainability Standards Board’s (ISSB) climate- and sustainability-related reporting standards for use by companies in the UK. The recommendations, published by the Financial Reporting Council (FRC), follow the release last year by the former government of the UK Green…