Planned European Union rules for corporate sustainability reporting will be based closely on existing, voluntary green disclosure standards under cooperation agreements like one just signed with a leading standard-setting group.
The Global Reporting Initiative said Thursday that it had agreed to cooperate formally with the EU’s accounting adviser, the European Financial Reporting Advisory Group, which is developing mandatory sustainability reporting rules for the bloc. GRI is an independent body that has developed voluntary green reporting rules, which it said are already used by 54% of big EU companies.
- The agreement is “an important step ...