8 Amendments of Michal WIEZIK related to 2021/0104(COD)
Amendment 85 #
Proposal for a directive
Recital 33
Recital 33
(33) No existing standard or framework satisfies the Union’s needs for detailed sustainability reporting by itself. Information required by Directive 2013/34/EU needs to cover information relevant from each of the materiality perspectives, needs to cover all sustainability matters and needs to be aligned, where appropriate, with other obligations under Union law to disclose sustainability information, including obligations laid down in Regulation (EU) 2020/852 and Regulation (EU) 2019/2088. In addition, mandatory sustainability reporting standards for Union undertakings must be commensurate with the level of ambition of the European Green Deal 2030 targets and the Union’s climate-neutrality objective for 2050. It is therefore necessary to empower the Commission to adopt Union sustainability reporting standards, enabling their rapid adoption and ensuring that the content of sustainability reporting standards are consistent with the Union’s needs.
Amendment 92 #
Proposal for a directive
Recital 37
Recital 37
(37) Sustainability reporting standards should be proportionate, and should not impose unnecessary administrative burden on companies that are required to use them. In order to minimise disruption for undertakings that already report sustainability information, sustainability reporting standards should take account of existing standards and frameworks for sustainability reporting and accounting where appropriate. Those include the Global Reporting Initiative, the Sustainability Accounting Standards Board, the International Integrated Reporting Council, the International Accounting Standards Board, the Task Force on Climate-related Financial Disclosures, the Carbon Disclosure Standards Board, and CDP (formerly the Carbon Disclosure Project). Standards of the European Union should take account of any sustainability reporting standards developed under the auspices of International Financial Reporting Standards Foundation. To avoid unnecessary regulatory fragmentation that may have negative consequences for undertakings operating globally, European standards should contribute to the process of convergence of sustainability reporting standards at global level, in particular by seeking alignment with the standards of the International Sustainability Standards Board.
Amendment 116 #
Proposal for a directive
Recital 47
Recital 47
(47) To meet the information needs from users in a timely manner, and in particular given the urgency to meet the information needs of financial market participants subject to the requirements laid down in the delegated acts adopted pursuant to Article 4, paragraphs 6 and 7 of Regulation (EU) 2019/2088, the Commission should adopt a first set of reporting standards by 31 October 2022. That set of reporting standards should specify the information that undertakings should disclose with regard to all reporting areas and sustainability including but not limited to climate change and biodiversity matters, and that financial market participants need to comply with the disclosure obligations laid down in Regulation (EU) 2019/2088. The Commission should adopt a second set of reporting standards at the latest by 31 October 2023, specifying complementary information that undertakings should disclose about sustainability matters and reporting areas where necessary, and information that is specific to the sector in which an undertaking operates. The Commission should review the standards every 3 years to take account of relevant developments, including the development of international standards.
Amendment 153 #
Proposal for a directive
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19 a – paragraph 1
Article 19 a – paragraph 1
1. Large undertakings and, as of 1 January 20264, small and medium-sized undertakings which are undertakings referred to in Article 2, point (1), point (a), and as of 1 January 2025, small and medium-sized undertakings which are high-impact undertakings, 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 162 #
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 – subparagraph 1 – point a – point i
Article 19 a – paragraph 2 – subparagraph 1 – point a – point i
(i) the resilience of the undertaking's business model and strategy to risks related to sustainability matters including whether the resilience of the business model(s) has been verified by using a range of climate scenarios;
Amendment 170 #
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 – subparagraph 1 – point a – point iii
Article 19 a – paragraph 2 – subparagraph 1 – point a – point iii
(iii) the plans of the undertaking including a pathway comprising of short- term and medium-term absolute emission reduction targets for 2025 and 2030, reviewed every five years up to 2050, to achieve climate carbon neutrality by 2050 at the latest, and implementing actions and related financial and investment plans, to ensure that its business model and strategy are compatible with the transition to a sustainable economy and with the limiting of global warming to 1.5 °C in line with the Paris Agreement;
Amendment 234 #
Proposal for a directive
Article 1 – paragraph 1 – point 4
Article 1 – paragraph 1 – point 4
The Commission shall adopt delegated acts in accordance with Article 49 to provide for sustainability reporting standards. European standards should contribute to the process to develop standards by the International Sustainability Standards Board. Those sustainability reporting standards shall specify the information that undertakings are to report in accordance with Articles 19a and 29a and, where relevant, shall specify the structure in which that information shall be reported. In particular:
Amendment 300 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – subparagraph 1 – point a – point iii
Article 29a – paragraph 2 – subparagraph 1 – point a – point iii
(iii) the plans of the group including a pathway comprising of short-term and medium-term absolute emission reduction targets for 2025 and 2030, and reviewed every five years thereafter, to achieve climate neutrality by 2050 at the latest, and implementing actions and related financial and investment plans to ensure that the group’s business model and strategy compatible with the transition to a sustainable economy and with the limiting of global warming to 1.5 °C in line with the Paris Agreement;