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How to ensure sustainability reporting in Europe drives emissions cuts
The We Mean Business Coalition and the World Business Council for Sustainable Development argue that the current draft of the European Sustainability Reporting Standards (ESRS) risks flooding the market with incomplete information. They advocate for alignment with the International Sustainable Standards Board (ISSB) and Global Reporting Initiative (GRI) to ensure global comparability and reduce the reporting burden. The authors specifically criticize the 'rebuttable presumptions' concept and the lack of maturity in certain KPIs, such as biodiversity offsets, suggesting a phased-in approach for less mature metrics to prevent greenwashing and maintain investor trust.
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Document type: Statement