Just last week, the European Commission published its draft Delegated Regulation on the revised European Sustainability Reporting Standards. What does this mean for EU business?

In this episode of Frankly Speaking, Richard Howitt was joined by Simon Braaksma, Global Head of Sustainability Reporting at Philips and Filip Gregor, Frank Bold’s own Head of Responsible Companies Section, both of whom are members of EFRAG’s Sustainability Reporting Board and TEG.

Together they discussed the overview of the changes, including their overarching assessment of the revised standards. You’ll hear about:

How important this latest change is for corporates and why companies should take part in the public consultation

Why the European Commission ultimately held the line on the concept of double materiality in the revised ESRS, in response to the ISSB’s calls to separate financial from impact materiality

The further change to the value chain cap and its consequences for businesses

What the revision on human rights violations only applying to ‘substantiated cases’ means in practice

The significance of the new draft voluntary standards for SMEs

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