30 May 2022: For the
EU draft for a Corporate Sustainability Reporting Directive (CSRD), separate standards, the so-called European Sustainability Reporting Standards (ESRS), are being developed. They are subdivided into overarching, sector-specific and thematic standards on the environment, social issues and governance. Until 8 August, the EU Commission is inviting public consultation via an
online survey.
One of the draft
standards (ESRS E4) is specifically aimed at biodiversity and ecosystems. The disclosure requirements are designed to help companies understand their impacts on biodiversity and thereby align their business model and operations with biodiversity protection. In line with the goal of full restoration of all global ecosystems by 2050, companies must provide plans to ensure that its business model and strategy are compatible with the transition to achieve no net loss by 2030 and net gain by 2050. Measurable biodiversity and ecosystem targets, biodiversity action plans and potential financial implications of biodiversity-related impacts, risks and opportunities must also be disclosed.
Author: Global Nature Fund