94 Amendments of Tiemo WÖLKEN related to 2021/0104(COD)
Amendment 62 #
Proposal for a directive
Recital 8
Recital 8
(8) The ultimate beneficiaries of better sustainability reporting by undertakings are individual citizens and savers. Savers who want to invest sustainably will have the opportunity to do so, while all citizens should benefit from a stable, sustainable and inclusive economic system. To realise these benefits, the sustainability information disclosed in undertaking’s annual reports first has to reach two primary groups (‘users’). The first group of users consists of investors, including asset managers, who want to better understand the risks and opportunities that sustainability issues pose to their investments and the impacts of those investments on people and the environment. The second group of users consists of organisations, including non- governmental organisations and social partners, that wish to better hold undertakings to account for their impacts on people and the environment, or wish to exchange with undertakings during the elaboration of those reports. Other stakeholders may also make use of sustainability information disclosed in annual reports. The business partners of undertakings, including customers, may rely on this information to understand, and where necessary report on, the sustainability risks and impacts through their own value chains. Policy makers and environmental agencies may use such information, in particular on an aggregate basis, to monitor environmental and social trends, to contribute to environmental accounts, and to inform public policy. Few individual citizens and consumers directly consult undertaking’s reports, but they may use such information indirectly such as when considering the advice or opinions of financial advisers or non-governmental organisations. Many investors and asset managers purchase sustainability information from third party data providers, who collect information from various sources, including public corporate reports.
Amendment 63 #
Proposal for a directive
Recital 8 a (new)
Recital 8 a (new)
(8a) The market for sustainability information is rapidly growing, and the role of data providers is gaining in importance with the new obligations that investors and asset managers need to fulfil. With the increased availability of disaggregated data, sustainability information should come at a more reasonable cost. The amended Directive 2013/34 is expected to increase the comparability of data and harmonise standards. It is expected that the practices of data providers should converge and that expertise will grow in this area, with a vast potential for job creation. In the event that the review of this Directive concludes that the practices of data providers remain fragmented, rules should be introduced in order to further standardise those practices and increase their reliability.
Amendment 65 #
Proposal for a directive
Recital 10 a (new)
Recital 10 a (new)
(10a) The European Green Deal will require behavioural change to achieve its objectives. Consequently, there is a need to move from corporate short-termism, to more sustainable, longer-term decision- making. As a study for DG Justice and Consumers in July 2020 revealed, one of the root causes of corporate short-termism is the regulatory framework19a. Though not sufficient on its own, enhanced sustainability reporting can be an important incentive for more sustainable corporate decision-making and governance. Sustainability reporting is also essential to keep track of the progress made in implementing the European Green Deal. _________________ 19a Study on Directors Duties and Sustainable Corporate Governance, prepared for DG Justice and Consumers in July 2020
Amendment 73 #
Proposal for a directive
Recital 15
Recital 15
(15) Articles 19a and 29a of Directive 2013/34/EU apply to large undertakings that are public-interest entities with an average number of employees in excess of 500, and to public-interest entities that are parent undertakings of a large group with an average number of employees in excess of 500 on a consolidated basis, respectively. In view of the growth of users’ needs for sustainability information, additional categories of undertakings should be required to report such information. It is therefore appropriate to require all large undertakings and all undertakings listed on regulated markets, except micro undertakings, to report detailed sustainability information. In addition, all undertakings that are parent unand small and medium-sized undertakings operating in high-risk economic sectors, to report dertakings of large groups should prepare sustainability reporting at group leveliled sustainability information.
Amendment 75 #
Proposal for a directive
Recital 16
Recital 16
(16) The requirement that also large non-listed undertakings, and small and medium-sized undertakings operating in high-risk economic sectors, should disclose information on sustainability matters is mainly driven by concerns about the impacts and accountability of such undertakings, including through their value chain. In this respect, all large undertakings, and small and medium-sized undertakings operating in high-risk economic sectors, should be subject to the same requirements to report sustainability information publicly. In addition, financial market participants also need information from those large non-listed undertakings.
Amendment 90 #
Proposal for a directive
Recital 18
Recital 18
(18) Considering the growing relevance of sustainability-related risks and taking into account that small and medium-sized enterprises (SMEs) listed on regulated markets comprise a significant proportion of all listed undertakings in the Union, in order to ensure investor protection it is appropriate to require that also those SMEs disclose information on sustainability matters. The introduction of this requirement will help to ensure that financial market participants can include smaller listed undertakings in investment portfolios on the basis that they report the sustainability information that financial market participants need. It will therefore help to protect and enhance the access of smaller listed undertakings to financial capital, and avoid discrimination against such undertakings on the part of financial market participants. The introduction of this requirement is also necessary to ensure that financial market participants have the information they need from investee undertakings to be able to comply with their own sustainability disclosure requirements laid down in Regulation (EU) 2019/2088. SMEs listed on regulated markets should, however, be provided with sufficient time to prepare for the application of the requirement to report sustainability information, due to their smaller size and more limited resources, and taking account of the difficult economic circumstances created by the COVID-19 pandemic. They should also be given the possibility to report according to standards that are proportionate to the capacities and resources of SMEs. Non- listed SMEs can alsoeither choose to use these proportionate standards on a voluntary basis, or report according to the standards applicable to large undertakings. The SME standards will set a reference for undertakings that are within the scope of the Directive regarding the level of sustainability information that they could reasonably request from SME suppliers and clients in their value chains.
Amendment 92 #
Proposal for a directive
Recital 18 a (new)
Recital 18 a (new)
(18a) Environmental, social and employee matters, respect for human rights, anti-corruption and bribery matters are not contingent on the size of an undertaking. Therefore, SMEs which are operating in economic sectors determined to be high risk should also be required to disclose information on sustainability matters, irrespective of whether or not they are listed on regulated markets.
Amendment 96 #
Proposal for a directive
Recital 20
Recital 20
Amendment 98 #
Proposal for a directive
Recital 21
Recital 21
(21) Articles 19a(3) and 29a(3) of Directive 2013/34/EU currently exemptallow all subsidiary undertakings from the obligation to report their non- financial information where such undertakings and their subsidiary undertakings are included inthrough the consolidated management report of their parent undertaking, provided this includes all the required non-financial information. It is necessary, however to ensure that sustainability information is easily accessible for users, and to bring transparency about which is the parent undertaking of the exempted subsidiary undertaking which is reporting at consolidated level. It is therefore necessary to require those subsidiary undertakings to publish the consolidated management report of their parent undertaking and to include a reference in their management report to the fact that they are exempted from reporting sustainability information. That exemption should also apply where the parent undertaking reporting at consolidated level is a third country undertaking reporting sustainability information in accordance with the requirements of this Directive or in a manner equivalent to EU sustainability reporting standardsdrafting their own sustainability information report.
Amendment 101 #
Amendment 106 #
Proposal for a directive
Recital 24
Recital 24
(24) The list of sustainability matters on which undertakings are required to report should be as coherent as possible with the definition of ‘sustainability factors’ laid down in Regulation (EU) 2019/2088. That list should also correspond to the needs and expectations of users and undertakings themselves, who often use the terms ‘environmental’, ‘social’ and ‘governance’ as a means to categorise the three main sustainability matters. The list of sustainability factors laid down in Regulation (EU) 2019/2088 does not explicitly include governance matters. The definition of sustainability matters in Directive 2013/34/EU should therefore be based on the definition, indicators and methodologies of ‘sustainability factors’ laid down in Regulation (EU) 2019/2088 and the associated delegated acts, but with the addition of governance matters.
Amendment 112 #
Proposal for a directive
Recital 26
Recital 26
(26) Articles 19a(1) and 29a(1) of Directive 2013/34/EU require undertakings to disclose information about five reporting areas: business model, policies (including due diligence processes implemented), the outcome of those policies, risks and risk management, and key performance indicators relevant to the business. Article 19a(1) of Directive 2013/34/EU does not contain explicit references to other reporting areas that users of information consider relevant, some of which align with disclosures included in international frameworks, including the recommendations of the Task Force on Climate-related Financial Disclosures. Disclosure requirements should be specified in sufficient detail to ensure that undertakings report information on their resilience to risks related to sustainability matters. In addition to the reporting areas identified in Articles 19a(1) and 29a(1) of Directive 2013/34/EU, undertakings should therefore be required to disclose information about their business strategy and the resilience of the business model and strategy to risks related to sustainability matters, any plans they may have to ensure that their business model and strategy are compatible with the transition to a sustainable and climate- neutral economy; whether and how their business model and strategy take account of the interests of stakeholders; any opportunities for the undertaking arising from sustainability matters; the implementation of the aspects of the business strategy which affect, or are affected by sustainability matters; any sustainability targets set by the undertaking and the progress made towards achieving them; the role of the board and management with regard to sustainability matters; the principal actual and potential adverse impacts connected with the undertaking’s activities; a due diligence strategy for identifying actual or potential adverse impacts and addressing them; and how the undertaking has identified and evaluated the information that they report on. Once the disclosure of elements such as targets and the progress towards achieving them is required, the separate requirement to disclose the outcomes of policies is no longer necessary.
Amendment 115 #
Proposal for a directive
Recital 27
Recital 27
(27) To ensure consistency with international instruments such as the UN Guiding Principles on Business and Human Rights and the OECD Due Diligence Guidance for Responsible Business Conduct, the due diligence disclosure requirements should be specified in greater detail than is the case in Article 19a(1), point (b), and Article 29a(1), point (b) of Directive 2013/34/EU. Due diligence is the process that undertakings carry out to identify, prevent, mitigate and remediate the principal actual and potential adverse impacts connected with their activities and identifies how they address those adverse impacts. Impacts connected with an undertaking’s activities include impacts directly caused by the undertaking, impacts to which the undertaking contributes, and impacts which are otherwise linked to the undertaking’s value chain. The due diligence process concerns the whole value chain of the undertaking including its own operations, its products and services, its business relationships and its supply chains. In alignment with the UN Guiding Principles on Business and Human Rights, an actual or potential adverse impact is toshould be considered principal where it measures among the greatest impacts connected with the undertaking’s activitiesadverse based on: the gravity of the impact on people or the environment; the number of individuals that are or could be affected, or the scale of damage to the environment; and the ease with which the harm could be remediated, restoring the environment or affected people to their prior state.
Amendment 132 #
Proposal for a directive
Recital 34
Recital 34
(34) The European Financial Reporting Advisory Group (EFRAG) is a non-profit association established under Belgian law that serves the public interest by providing advice to the Commission on the endorsement of international financial reporting standards. EFRAG has established a reputation as a European centre of expertise on corporate reporting, and is well placed tocan foster coordination between European sustainability reporting standards and international initiatives that seek to develop standards that are consistent across the world. In March 2021, a multi- stakeholder task force set up by EFRAG published recommendations for the possible development of sustainability reporting standards for the European Union. Those recommendations contain proposals to develop a coherent and comprehensive set of reporting standards, covering all sustainability matters from a double-materiality perspective. Those recommendations also contain a detailed roadmap for developing such standards, and proposals for mutually reinforcing cooperation between global standard- setting initiatives and standard-setting initiatives of the European Union. In March 2021, the EFRAG President published recommendations for possible governance changes to EFRAG if it were to be asked to develop technical advice about sustainability reporting standards. These recommendations include offsetting up within EFRAG a new sustainability reporting pillar while not significantly modifying the existing financial reporting pillar. When adopting sustainability reporting standards, the Commission should take account of technical advice that EFRAG will develop. In order to ensure high-quality standards that contribute to the European public good and meet the needs of undertakings and of users of the information reported, EFRAG’s technical advice should be developed with proper due process, public oversight and transparency, accompanied by cost benefit analyses, and be developed with the expertise of relevant stakeholdby an independent body constituted of a balanced representation of relevant stakeholders, including civil society organisations and social partners. To ensure that Union sustainability reporting standards take account of the views of the Member States of the Union, before adopting the standards the Commission should consult the Member State Expert Group on Sustainable Finance referred to in Article 24 of Regulation (EU) 2020/852 on EFRAG’s technical advice. The European Securities and Markets Authority (ESMA) plays a role in drafting regulatory technical standards pursuant to Regulation (EU) 2019/2088 and there needs to be coherence between those regulatory technical standards and sustainability reporting standards. According to Regulation (EU) No 1095/2010 of the European Parliament and of the Council54 , ESMA also plays a role in promoting supervisory converge in the enforcement of corporate reporting by issuers whose securities are listed on EU regulated markets and who will be required to use these sustainability reporting standards. Therefore, ESMA should be required to provide an opinion on EFRAG’s technical advice. This opinion should be provided within two months from the date of receipt of the request from the Commission. In addition, the Commission should consult the European Banking Authority, the European Insurance and Occupational Pensions Authority, the European Environment Agency, the European Union Agency for Fundamental Rights, the European Central Bank, the Committee of European Auditing Oversight Bodies and the Platform on Sustainable Finance to ensure that the sustainability reporting standards are coherent with relevant Union policy and legislation. Where any of those bodies decide to submit an opinion, they shall do so within two months from the date of being consulted by the Commission. _________________ 54 Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).
Amendment 154 #
Proposal for a directive
Recital 44
Recital 44
(44) Users need information about governance factors, including information on the role of an undertaking’s administrative, management and supervisory bodies, including with regard to sustainability matters, the composition of such bodies, including the gender balance of company boards and related policies for increasing diversity, and an undertaking’s internal control and risk management systems, including in relation to the reporting process. Users also need information about undertakings’ corporate culture and approach to business ethics, including anti-corruption and anti-bribery, and about their political engagements, including lobbying activities. Information about the management of the undertaking and the quality of relationships with business partners, including payment practices relating to the date or period for payment, the rate of interest for late payment or the compensation for recovery costs referred to in Directive 2011/7/EU of the European Parliament and of the Council62 on late payment in commercial transactions, helps users to understand an undertaking’s risks as well as its impacts on sustainability matters. Every year, thousands of businesses, especially SMEs, suffer administrative and financial burdens because they are paid late, or not at all. Ultimately, late payments lead to insolvency and bankruptcy, with destructive effects on entire value chains. Increasing information about payment practices should empower other undertakings to identify prompt and reliable payers, detect unfair payment practices, access information about the businesses they trade with, and negotiate fairer payment terms. _________________ 62 Directive 2011/7/EU of the European Parliament and of the Council of 16 February 2011 on combating late payment in commercial transactions (OJ L 48, 23.2.2011, p. 1).
Amendment 155 #
Proposal for a directive
Recital 44 a (new)
Recital 44 a (new)
(44a) Diversity on company boards contributes to better decision-making, corporate governance and resilience in undertakings. Workers' representatives as well as more women on boards would promote the sustainable development of undertakings.
Amendment 156 #
Proposal for a directive
Recital 44 b (new)
Recital 44 b (new)
(44b) Fair tax policies are an integral part of an undertaking's corporate social responsibility. It is therefore relevant that undertakings should disclose their policies in this field. Specifically relevant are an undertaking's policies regarding potentially harmful tax regimes as can be indicated using the hallmarks laid out in Annex IV of the Council Directive (EU) 2018/822 amending Directive 2011/16/EU. These hallmarks, as well as international standards on tax reporting, such as those developed by the Global Reporting Initiative, should be used to develop delegated acts further specifying the sustainability reporting standards on fair taxation practices.
Amendment 158 #
Proposal for a directive
Recital 45
Recital 45
(45) The reporting standards should promote a more integrated view of all the information published by undertakings in the management report to provide users of that information with a better understanding of the development, performance, position and impact of the undertaking. Those standards should distinguish as necessary between information that undertakings should disclose when reporting at individual level and the additional information that undertakings should disclose when reporting at consolidated level. Those standards should also contain guidance for undertakings on the process carried out to identify the sustainability information that should be included in the management report.
Amendment 159 #
Proposal for a directive
Recital 45 a (new)
Recital 45 a (new)
(45a) Member States should ensure that sustainability reporting is done in compliance with workers’ rights to information and consultation, in accordance with Directive 2002/14/EC and, where applicable, in accordance with Directive 2009/38/EC, Directive 2001/86/EC or Directive 2003/72/EC. Member States may decide that workers’ rights to information and consultation apply with respect to the workers of companies other than those referred to in Article 3(1) of Directive 2002/14/EC.
Amendment 163 #
Proposal for a directive
Recital 46 a (new)
Recital 46 a (new)
(46a) Sector specific standards should be in particular developed for the extractive industry, as defined in Article 41 (1) of Directive 2013/34/EU, and the logging of forests. Those standards should be consistent with the project level reporting requirements foreseen in Chapter 10 of Directive 2013/34/EU, and should require the publication of contracts and other relevant documents upon which these projects are based, as well as information on payments to Governments and joint ventures.
Amendment 182 #
Proposal for a directive
Recital 54
Recital 54
(54) Statutory auditors or audit firms already verify the financial statements and the management report. The assurance of sustainability reporting by the statutory auditors or audit firms would help to ensure the connectivity between, and consistency of, financial and sustainability information, which is particularly important for by users of sustainability information. However, there is a risk of further concentration of the audit market, which could risk the independence of auditors and increase audit or assurance fees. It is therefore desirable to offer undertakings a broader choice of independent assurance service providers for the assurance of sustainably reporting. Member States should therefore be allowed to accredit independent assurance services providers in accordance with Regulation (EC) No 765/2008 of the European Parliament and of the Council66 to provide an opinion on sustainability reporting, which should be published together with the management report. Member States should set out requirements that ensure consistent outcomes in the assurance of sustainability reporting carried out by different assurance service providers. Therefore, all independent assurance services providers should be subject to requirements that are consistent with those set out in Directive 2006/43/EC as regards the assurance of sustainability reporting. This will also guarantee a level playing field among all persons and firms allowed by Member States to provide the opinion on the assurance of sustainability reporting, including statutory auditors. If an undertaking seeks the opinion of an accredited independent assurance services provider other than the statutory auditor on its sustainability reporting, it should not in addition need to request this opinion from the statutory auditor. Likewise, an undertaking should not seek the opinion of the same audit firm or equivalent for both the fulfilment of its due diligence obligations, and the assurance of sustainability disclosures as set out in this directive. _________________ 66 Regulation (EC) No 765/2008 of the European Parliament and of the Council of 9 July 2008 setting out the requirements for accreditation and market surveillance relating to the marketing of products and repealing Regulation (EEC) No 339/93 (OJ L 218, 13.8.2008, p. 30).
Amendment 185 #
Proposal for a directive
Recital 57
Recital 57
(57) It should be ensured that the requirements imposed on auditors as regards their work on the statutory audit and the assurance of sustainability reporting are consistent. It should therefore be laid down that, where the opinion on sustainability reporting is given by the statutory auditor or audit firm carrying out the statutory audit of financial statements, the key audit partners are actively involved in conducting the assurance of sustainability reporting. When carrying out the assurance of sustainability reporting, statutory auditors should be required to devote sufficient time to the engagement and assign sufficient resources and expertise to enable them to carry out their duties appropriately. Finally, the client account record should specify the fees charged for the assurance of sustainability reporting and the audit file should include information related to the assurance of sustainability reporting.
Amendment 196 #
Proposal for a directive
Recital 71
Recital 71
(71) Member States are invited to assess the impact of their transposition act on SMEs in order to ensure that they are not disproportionately affected, giving specific attention to micro-enterprises and to the unnecessary administrative burden, and to publish the results of such assessments. Member States should consider introducing measures to support SMEs in applying the voluntary simplified reporting standards.
Amendment 202 #
Proposal for a directive
Article 1 – paragraph 1 – point 1
Article 1 – paragraph 1 – point 1
Directive 2013/34/EU
Article 1 – paragraph 3 – point b a (new)
Article 1 – paragraph 3 – point b a (new)
Amendment 207 #
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2013/34/EU
Article 2 – point 17
Article 2 – point 17
(17) ‘sustainability matters’ means sustainability factors as defined in Article 2, point (24) of Regulation (EU) 2019/2088 of the European Parliament and of the Council\*4, including the underlying methodologies and indicators pertaining to environmental matters set out in that regulation, as well as the delegated acts pursuant to it, and governance factors;
Amendment 213 #
Proposal for a directive
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Directive 2013/34/EU
Article 2 – point 20 a (new)
Article 2 – point 20 a (new)
(20a) 'high-risk sectors' are those business sectors in which there is a high risk for adverse impacts on the environment, good governance, social or human rights, due to factors including their size, business and value chain characteristics.
Amendment 228 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 1
Article 19a – paragraph 1
1. Large undertakings and, as of 1 January 2026, small and medium-sized undertakings which are undertakings referred to in Article 2, point (1), point (a), and small and medium-sized undertakings operating in high-risk sectors, shall include in the management report information necessary to understand the undertaking’s impacts on sustainability matters, and information necessary to understand how sustainability matters affect the undertaking’s development, performance and position.
Amendment 230 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 1a (new)
Article 19a – paragraph 1a (new)
1a. In accordance with applicable EU and national legislation and practice, the appropriate workers' representative bodies shall be consulted, at the beginning of the reporting period and 30 days prior to the submission of the report to the auditor, on the design of the reporting system, the indicators included, the methodology put in place to gather and verify sustainability information, and on the potential or actual sustainability impacts identified. A report on this consultation should be presented to the administrative, management and supervisory bodies or the audit committee of the supervisory board. Where the workers or their representatives provide a written opinion, it shall be appended to the sustainability report. Workers' representatives shall be provided with the resources necessary to enable them to exercise the rights foreseen in this paragraph.
Amendment 241 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 2 – point a – subpoint ii a (new)
Article 19a – paragraph 2 – point a – subpoint ii a (new)
(iiia) the plans of the undertaking to ensure that corporate strategies, goals and measures are consistent with securing employment and promoting decent work conditions, as evidenced by collective bargaining agreements and workers rights of information, consultation and where applicable worker board level representation;
Amendment 246 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 2 – point a – subpoint v
Article 19a – paragraph 2 – point a – subpoint v
(v) how the undertaking’s strategy has been implemented with regard to sustainability matters and associated targets;
Amendment 249 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 2 – point b
Article 19a – paragraph 2 – point b
(b) a description of the targetsime-bound targets and progress previously made and envisaged to be made towards achieving those targets, and corresponding evidence related to sustainability matters set by the undertaking, any potential or actual adverse impacts, and of the progress the undertaking has made towards achieving those targets;
Amendment 254 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 2 – point c
Article 19a – paragraph 2 – point c
(c) a description of the role of the administrative, management and supervisory bodies with regard to sustainability matters, as well as their composition and expertise, the stakeholders they consult with on sustainability matters, their decision- making processes, and whether incentives linked to sustainability matters are offered to members of these bodies;
Amendment 259 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 2 – point d
Article 19a – paragraph 2 – point d
(d) a description of the undertaking’s policies in relation to sustainability matters, including in relation to potential and actual adverse impacts;
Amendment 262 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19 a – paragraph 2 – point e – subpoint i
Article 19 a – paragraph 2 – point e – subpoint i
(i) the due diligence process and strategy, pursuant to applicable EU and national legislation, and the UN Guiding Principles for Business and Human Rights and the OECD Due Diligence Guidance for Responsible Business Conduct, implemented with regard to sustainability matters;
Amendment 267 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 2 – point e – subpoint ii
Article 19a – paragraph 2 – point e – subpoint ii
(ii) the principalmapping process of actual or potential adverse impacts connected with the undertaking’s value chain, including its own operations, its products and services, its business relationships, its subsidiaries and its supply chain, including the persons adversely impacted, and how these have been identified and prioritised;
Amendment 271 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 2 – point e – subpoint iii
Article 19a – paragraph 2 – point e – subpoint iii
(iii) anyll actions taken, and the result of such actions, to prevent, mitigate, cease, or remediate actual or potential adverse impacts, and the evaluation of the effectiveness of actions taken, as well as alert mechanisms established;
Amendment 275 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a, paragraph 2, point e, subpoint iii a (new)
Article 19a, paragraph 2, point e, subpoint iii a (new)
(iii a) The above disclosure requirement does not exclude any additional communication as required in line with EU Directive XXX on Sustainable Corporate Governance
Amendment 283 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 2
Article 19a – paragraph 2
Undertakings shall add to the management report a description of the process used by their audit committee to ensure the independence of the statutory auditor or audit firm carrying out the assurance of the sustainability reporting.
Amendment 290 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 3
Article 19a – paragraph 3
Amendment 302 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 7 – subparagraph 1
Article 19a – paragraph 7 – subparagraph 1
Amendment 307 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 7 – subparagraph 2
Article 19a – paragraph 7 – subparagraph 2
The consolidated management report of thea parent undertaking referred to in subparagraph 1 shall be published in accordance with Article 30, in the manner prescribed by the law of the Member State by which the undertaking that is exempted from the obligations set outwhich meets the requirements referred to in paragraphs 1 to 4 is governed.
Amendment 311 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 7 – subparagraph 3
Article 19a – paragraph 7 – subparagraph 3
The Member State by which the undertaking that is exempted from the obligations set outwhich meets the requirements referred to in paragraphs 1 to 4 is governed, may require that the consolidated management report referred to in the first subparagraph of this paragraph iss are published in an official language of the Member State or in a language customary in the sphere of international finance, and that any necessary translation into those languages is certified.
Amendment 314 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 7 – subparagraph 4
Article 19a – paragraph 7 – subparagraph 4
The management report of an undertaking that is exempted from the obligations set outwhich meets the requirements referred to in paragraphs 1 to 4 shall contain all of the following information:
Amendment 315 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 7 – point a
Article 19a – paragraph 7 – point a
(a) the name and registered office of the parent undertaking that reports information at group level in accordance with Articles 29 and 29a, or in a manner that may be considered equivalent, in accordance with the implementing measures adopted pursuant tofor each entity which shall also be named, in accordance with Articles 23(4), point (i) of Directive 2004/109/EC, to the manner required by the sustainability reporting standards referred to in Article 19b9 and 29a;
Amendment 318 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 7 – point b
Article 19a – paragraph 7 – point b
Amendment 322 #
Proposal for a directive
Article 1 – paragraph 1 – point 4 – introductory part
Article 1 – paragraph 1 – point 4 – introductory part
(4) the following Articles 19b, 19 c a, 19c and 19d are inserted:
Amendment 328 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 1 – point a a (new)
Article 19b – paragraph 1 – point a a (new)
(a a) by 31 October 2022, the Commission shall adopt delegated acts specifying a list of high-risk business sectors, taking into account relevant international standards and scientific and technical knowledge. The list shall include but shall not be limited to the mining industry, extractive industry, agriculture, clothing and textiles, financial and insurance services, energy, water supply and management, construction, and transportation.
Amendment 333 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 1 – point b – subpoint ii
Article 19b – paragraph 1 – point b – subpoint ii
(ii) information that undertakings shall report that is specific to the sector in which they operate, with particular attention paid to high-risk business sectors.
Amendment 344 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2
Article 19b – paragraph 2
2. The sustainability reporting standards referred to in paragraph 1 shallwill ensure the quality and relevance of reported information, by requireing that the information to be reported is understandable, relevant, representative, verifiable, reliable, comparable, and is represented in a faithful manner. When possible and relevant this information should be measurable and science-based, and it shall be understandable in the absence of contextual information.
Amendment 357 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – point a – subpoint i
Article 19b – paragraph 2 – point a – subpoint i
(i) climate change mitigation, including greenhouse gas emissions and related targets for their reduction;
Amendment 371 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – point a – subpoint iv
Article 19b – paragraph 2 – point a – subpoint iv
(iv) resource use and transition to a circular economy;
Amendment 376 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – point a – subpoint v
Article 19b – paragraph 2 – point a – subpoint v
(v) pollution prevention and control;
Amendment 381 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – point a – subpoint vi
Article 19b – paragraph 2 – point a – subpoint vi
(vi) the protection and restoration of biodiversity and ecosystems;
Amendment 387 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – point b – subpoint i a (new)
Article 19b – paragraph 2 – point b – subpoint i a (new)
(i a) workforce composition, including diversity and gender-equality, the gender pay-gap, the management-to-worker pay ratio, use of contingent labour, trade union representation and collective bargaining, and consultation and dialogue with trade unions and employee representatives in line with all applicable legislation;
Amendment 400 #
Proposal for a directive
Article 1 – paragraph 1 – point 4 Directive 2013/34/EU
Article 1 – paragraph 1 – point 4 Directive 2013/34/EU
(iii) respect for the human rights, fundamental freedoms, democratic principles and standards established in the International Bill of Human Rights and other core UN human rights conventions, the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work and the ILO fundamental conventions andand governance conventions, the European Convention on Human Rights, the European Social Charter, the OECD Guidelines for Multinational Enterprises, the Charter of Fundamental Rights of the European Union, and EU legislation on labour and the rule of law.
Amendment 402 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – point b – subpoint iii a (new)
Article 19b – paragraph 2 – point b – subpoint iii a (new)
(iii a) workers in the value chain and affected communities, including human rights impacts, forced labour, child labour, privacy, freedom of expression, association and assembly, health and safety of workers, access to adequate water, sanitation and housing, and respect for the rights of indigenous peoples and free, prior and informed consent;
Amendment 410 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – point c – subpoint i
Article 19b – paragraph 2 – point c – subpoint i
(i) the role and expertise of the undertaking’s administrative, management and supervisory bodies, including with regard to sustainability matters, and their composition and the due diligence process and strategy, and their composition, including the presence of trade union and workers representatives;
Amendment 414 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – point c – subpoint i a (new)
Article 19b – paragraph 2 – point c – subpoint i a (new)
(i a) incentives offered to members of these bodies which are linked to sustainability matters and associated targets, including in terms of remuneration;
Amendment 416 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – point c – subpoint ii
Article 19b – paragraph 2 – point c – subpoint ii
(ii) business ethics and corporate culture, including anti-corruption and anti- bribery, and whistleblowing systems;
Amendment 420 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – point c – subpoint iii
Article 19b – paragraph 2 – point c – subpoint iii
(iii) political engagements of the undertaking, including its lobbying activities and costs, political donations, and potential conflicts of interest;
Amendment 425 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – point c – subpoint v
Article 19b – paragraph 2 – point c – subpoint v
(v) the undertaking’s internal control and risk management systems, including in relation to the undertaking’s reporting and decision-making process.
Amendment 426 #
Proposal for a directive
Article 1 – paragraph 1 – point 4 Directive 2013/34/EU
Article 1 – paragraph 1 – point 4 Directive 2013/34/EU
(v a) the undertaking's fair taxation policy, including its policy on the use of tax incentives and third countries to achieve a reduction in tax payments;
Amendment 434 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 3 – point a
Article 19b – paragraph 3 – point a
(a) the work of global standard-setting initiatives for sustainability reporting, and existing standards and frameworks for natural capital accounting, responsible business conduct, corporate social responsibility including fair tax policies, and sustainable development;
Amendment 439 #
(h a) Council Directive (EU) 2018/822 amending Directive 2011/16/EU14a _________________ 14a Council Directive (EU) 2018/822 of 25 May 2018 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements
Amendment 446 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19 c a (new)
Article 19 c a (new)
Article 19 c a Sustainability reporting related to Regulation (EU) 2020/852 1. Any undertaking which is subject to an obligation to publish non-financial information pursuant to Article 8 of Regulation (EU) 2020/852 shall include information on how and to what extent the undertaking’s activities are associated with economic activities that do not qualify as environmentally sustainable under Articles 3 and 9 of Regulation (EU) 2020/852. 2. In particular, non-financial undertakings shall disclose the following: (a) the proportion of their turnover derived from products or services associated with, and the proportion of their capital expenditure and the proportion of their operating expenditure related to assets or processes associated with, economic activities that do not meet the substantial contribution criteria but do meet the Do No Significant Harm criteria specified in relevant Delegated Acts under Articles 10 to 15 of Regulation (EU) 2020/852 or that are not covered by the scope of these Delegated Acts; (b) the proportion of their turnover derived from products or services associated with, and the proportion of their capital expenditure and the proportion of their operating expenditure related to assets or processes associated with economic activities that do neither meet the substantial contribution criteria nor the Do No Significant Harm criteria specified in relevant Delegated Acts under Articles 10 to 15 of Regulation (EU) 2020/852. 3. The Commission shall adopt a delegated act in accordance with Article 49 to supplement paragraphs 1 and 2 of this Article to specify the content and presentation of the information to be disclosed pursuant to those paragraphs, including the methodology to be used in order to comply with them, taking into account the specificities of both financial and non-financial undertakings and the technical screening criteria established pursuant to this Regulation. The Commission shall adopt that delegated act by 31 October 2022.
Amendment 463 #
Proposal for a directive
Article 1 – paragraph 1 – point 5 – point a
Article 1 – paragraph 1 – point 5 – point a
Directive 2013/34/EU
Article 20 – paragraph 1 – point a – subpoint g
Article 20 – paragraph 1 – point a – subpoint g
(g) a description of the diversity policy applied in relation to the undertaking's administrative, management and supervisory bodies with regard to gender and other aspects such as, age, or educational and professional backgrounds, the objectives of that diversity policy, how it has been implemented and the results in the reporting period. If no such policy is applied, the statement shall contain an explanation as to why this is the case.;
Amendment 469 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 1a (new)
Article 29a – paragraph 1a (new)
1 a. In accordance with applicable EU and national legislation and practice, the appropriate workers’ representative bodies shall be consulted, at the beginning of the reporting period and 30 days prior to the submission of the consolidated report to the auditor, on the design of the reporting system, the indicators included, the methodology put in place to gather and verify sustainability information, and on the potential or actual sustainability impacts identified. A report on this consultation should be presented to the administrative, management and supervisory bodies or the audit committee of the supervisory board. Where the workers or their representatives provide a written opinion, it shall be appended to the consolidated sustainability report. Workers’ representatives shall be provided with the resources necessary to enable them to exercise the rights foreseen in this paragraph.
Amendment 479 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – point a – subpoint iii a (new)
Article 29a – paragraph 2 – point a – subpoint iii a (new)
(iii a) the plans of the group to ensure that corporate strategies, goals and measures are consistent with securing employment and promoting decent work conditions;
Amendment 484 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – point a – subpoint v
Article 29a – paragraph 2 – point a – subpoint v
(v) how the group’s strategy has been implemented with regard to sustainability matters and associated targets;
Amendment 488 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – point b
Article 29a – paragraph 2 – point b
(b) a description of the targetsime-bound targets and progress previously made and envisaged to be made towards achieving those targets, and corresponding evidence related to sustainability matters set by the group, any potential or actual adverse impacts and of the progress of the undertaking towards achieving them;
Amendment 492 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29c – paragraph 2 – point c
Article 29c – paragraph 2 – point c
(c) a description of the role of the administrative, management and supervisory bodies with regard to sustainability matters, as well as their composition and expertise, the stakeholders they consult with on sustainability matters, their decision- making processes and whether incentives linked to sustainability matters are offered to members of these bodies;
Amendment 494 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – point d
Article 29a – paragraph 2 – point d
(d) a description of the group’s policies in relation to sustainability matters, including in relation to potential and actual adverse impacts;
Amendment 498 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – point e – subpoint i
Article 29a – paragraph 2 – point e – subpoint i
(i) the due diligence process and strategy, pursuant to applicable EU and national legislation, and the UN Guiding Principles for Business and Human Rights and the OECD Due Diligence Guidance for Responsible Business Conduct, implemented with regard to sustainability matters;
Amendment 503 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – point e – subpoint ii
Article 29a – paragraph 2 – point e – subpoint ii
(ii) the principalmapping process of actual or potential adverse impacts connected with the group’s value chain, including its own operations, its products and services, its business relationships, its subsidiaries and its supply chain, including the persons adversely impacted, and how these have been identified and prioritised;
Amendment 506 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – point e – subpoint iii
Article 29a – paragraph 2 – point e – subpoint iii
(iii) anyll actions taken, and the result of such actions, to prevent, mitigate, cease or remediate actual or potential adverse impacts, and the evaluation of the effectiveness of actions taken, as well as alert mechanisms established;
Amendment 510 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29 – paragraph 2 – point e – subpoint iii a (new)
Article 29 – paragraph 2 – point e – subpoint iii a (new)
(iii a) The above disclosure requirement does not exclude any additional communication as required in line with EU Directive XXX on Sustainable Corporate Governance.
Amendment 515 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2
Article 29a – paragraph 2
Parent undertakings shall add to the management report a description of the process used by their audit committee to ensure the independence of the statutory auditor or audit firm carrying out the assurance of the sustainability reporting.
Amendment 523 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 3
Article 29a – paragraph 3
The information referred to in paragraphs 1 and 2 shall include information about the group’s value chain, including its own operations, its assets, its products and services, its business relationships and its supply chain, where appropriate.
Amendment 528 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 4
Article 29a – paragraph 4
4. Parent undertakings shall report the information referred to in paragraphs 1 to 3 in accordance with the sustainability reporting standards referred to in Article 19b and they shall provide separate information per entity.
Amendment 535 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 7 – subparagraph 1
Article 29a – paragraph 7 – subparagraph 1
7. A parent undertaking which is also a subsidiary undertaking shall be exempted from the obligation set out in paragraphs 1 to 4 if that exempted parent undertaking and its subsidiaries are included in the consolidated management report of another undertaking, drawn up in accordance with Article 29 and this Article. A parent undertaking that is a subsidiary undertaking from a parent undertaking that is established in a third country shall also be exempted from the obligations set out in paragraphs 1 to 4 where that undertaking and its subsidiary undertakings are included in the consolidated management report of that parent undertaking and where the consolidated management report is drawn up in a manner that may be considered equivalent, in accordance with the relevant implementing measures adopted pursuant to Article 23(4)(i) of Directive 2004/109/EC, to the manner required by the sustainability reporting standards referred to in Article 19b of this Directive.deleted
Amendment 536 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 7 – subparagraph 2
Article 29a – paragraph 7 – subparagraph 2
The consolidated management report of thea parent undertaking referred to in subparagraph 1 shall be published in accordance with Article 30, in the manner prescribed by the law of the Member State by which the parent undertaking that is exempted from the obligations set outwhich meets the requirements referred to in paragraphs 1 to 4 is governed.
Amendment 542 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 7 – subparagraph 3
Article 29a – paragraph 7 – subparagraph 3
The Member State by which the parent undertaking that is exempted from the obligations set outwhich meets the requirements referred to in paragraphs 1 to 4 is governed may require that the consolidated management report referred to in in the first subparagraph of this paragraph iss are published in its official language or in a language customary in the sphere of international finance, and that any necessary translation into those languages is certified.
Amendment 544 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 7 – subparagraph 4
Article 29a – paragraph 7 – subparagraph 4
The consolidated management report of a parent undertaking that is exempted from the obligations set outwhich meets the requirements referred to in paragraphs 1 to 4 shall contain all of the following information:
Amendment 545 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 7 – point a
Article 29a – paragraph 7 – point a
(a) the name and registered office of the parent undertaking that reports information at group level in accordance with Articles 29 and this Article, or in a manner that may be considered equivalent, in accordance with the relevant implementing measures adopted pursuant to Article 23(4)(i) of Directive 2004/109/EC, to the manner required by the sustainability standards adopted pursuant tofor each entity which shall also be named in accordance with Articles 29 and this Article 19b;
Amendment 546 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 7 – point b
Article 29a – paragraph 7 – point b
Amendment 548 #
Proposal for a directive
Article 1 – paragraph 1 – point 8 – point a
Article 1 – paragraph 1 – point 8 – point a
Directive 2013/34/EU
Article 30 – paragraph 1
Article 30 – paragraph 1
1. Member States shall ensure that undertakings publish online within a reasonable period of time, which shall not exceed 12 months after the balance sheet date, the duly approved annual financial statements and the management report in the format prescribed by Article 19d of this Directive where applicable, together with the opinions and statement submitted by the statutory auditor or audit firm referred to in Article 34 of this Directive, as laid down by the laws of each Member State in accordance with Chapter 3 of Directive (EU) 2017/1132 of the European Parliament and of the Council*16.’
Amendment 549 #
Proposal for a directive
Article 1 – paragraph 1 – point 8 – point a
Article 1 – paragraph 1 – point 8 – point a
Directive 2013/34/EU
Article 30 – paragraph 1
Article 30 – paragraph 1
Amendment 550 #
Proposal for a directive
Article 1 – paragraph 1 – point 8 – point a
Article 1 – paragraph 1 – point 8 – point a
Amendment 553 #
Proposal for a directive
Article 1 – paragraph 1 – point 10 – point a – point ii
Article 1 – paragraph 1 – point 10 – point a – point ii
Directive 2013/34/EU
Article 34 – paragraph 1 – point aa
Article 34 – paragraph 1 – point aa
(aa) where applicable, express an opinion based on a limitedreasonable assurance engagement as regards the compliance of the sustainability reporting with the requirements of this Directive, including the compliance of the sustainability reporting with the reporting standards adopted pursuant to Article 19b, the process carried out by the undertaking to identify the information reported pursuant to those reporting standards, and the compliance with the requirement to mark- up sustainability reporting in accordance with Article 19d, and as regards the compliance with the reporting requirements of Article 8 of Regulation (EU) 2020/852.;
Amendment 566 #
Proposal for a directive
Article 1 – paragraph 1 – point 11 – point b
Article 1 – paragraph 1 – point 11 – point b
Directive 2013/34/EU
Article 49 – paragraph 3a (new)
Article 49 – paragraph 3a (new)
3a. When adopting delegated acts pursuant to Articles 19b and 19c, the Commission shall take into consideration technical advice from EFRAG, provided such advice has been developed by an independent technical advisory body composed of a balanced representation of preparers, investors, civil society organisations and trade unions, with expertise on all matters outlined in articles 19a and 19b, with proper due process, public funding, public oversight and transparency and with the expertise of relevant stakeholders, and is accompanied by cost-benefit analyses that include analyses of the impacts of the technical advice on sustainability matters. Participation in the independent technical advisory body should not be conditional on any financial contribution.
Amendment 583 #
Proposal for a directive
Article 1 – paragraph 1 – point 12
Article 1 – paragraph 1 – point 12
Directive 2013/34/EU
Article 51 – paragraph 3 – point f
Article 51 – paragraph 3 – point f
(f) the level of cooperation of the natural person or legal entity responsible with the competent authority and with stakeholders;
Amendment 598 #
Proposal for a directive
Article 3 – paragraph 1 – point 12
Article 3 – paragraph 1 – point 12
Directive 2006/43/EC
Article 26a – paragraph 2
Article 26a – paragraph 2
2. The Commission shall be empowered to adopt, by means of delegated acts in accordance with Article 48a, thelimited assurance standards rbeferred to in paragraph 1ore 1 October 2023, and reasonable assurance standards before 1 January 2026, in order to set out the procedures that the auditor shall perform in order to draw its conclusions on the assurance of sustainability reporting, including engagement planning, risk consideration and response to risks and type of conclusions to be included in the audit report.
Amendment 601 #
Proposal for a directive
Article 3 – paragraph 1 – point 14 – point e
Article 3 – paragraph 1 – point 14 – point e
Directive 2006/43/EC
Article 28 – paragraph 4
Article 28 – paragraph 4
The audit report shall be signed and dated by the statutory auditor. Where an audit firm carries out the statutory audit and, where applicable, the assurance of sustainability reporting, the audit report shall bear the signature of at least the statutory auditor(s) carrying out the statutory audit and the assurance of sustainability reporting on behalf of the audit firm. Where more than one statutory auditor or audit firm have been simultaneously engaged, the audit report shall be signed by all statutory auditors or at least by the statutory auditors carrying out the statutory audit and the assurance of sustainability reporting on behalf of every audit firm. In exceptional circumstances Member States may provide that such signature(s) need not be disclosed to the public if such disclosure could lead to an imminent and significant threat to the personal security of any person. If an undertaking seeks the opinion of statutory auditors, audit firms or independent assurance services firms in their due diligence obligations, processes and strategy, the same entity will not be used to provide assurance of the undertaking's sustainability reporting and disclosures.;
Amendment 606 #
Proposal for a directive
Article 4 a (new)
Article 4 a (new)
Article 4 a Review The Commission shall submit a report to the European Parliament and to the Council on the implementation of this Directive, including, among other aspects, its effectiveness, the convergence of reporting practices, the convergence of the practices of data providers, and the level of guidance and methods provided. The report shall be published by 1 January 2028