EU Watchdogs Back Standard Setter For Green Disclosures

Law360, London (December 17, 2020, 3:00 PM GMT) -- Europe's financial regulators have said that a standard setter is needed to mesh together different national and international guidance on how companies must provide green disclosures to investors, in a bid to standardize non-financial disclosures.

The European Supervisory Authorities said Wednesday that they strongly support the creation of a single body to develop a global set of standards for companies looking to make environmental, social and governance, or ESG, disclosures.

The regulators — the European Securities and Markets Authority, the European Banking Authority and the European Insurance and Occupational Pensions Authority — said that non-financial reporting must become reliable, standardized and...

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