European Commission executive vice president, Valdis Dombrovskis, has said that global standards and interoperability will play an important role as many countries make the move towards greener economies.
Speaking at the EU Investment Summit today (28 October), Dombrovskis said the Corporate Sustainability Reporting Directive will improve corporate disclosure of sustainability information through the draft reporting standards, which are now being developed by the European Financial Reporting Advisory Group.
"Global standards and interoperability play an important role too, as many countries make the move towards greener economies," he added. "EU standards will contribute to global initiatives, and here, the International Sustainability Standards Board initiative is a good baseline. It will help to achieve global alignment, creating interoperability and consistency."
He added: "The EU will incorporate ISSB standards to the extent that they are consistent with EU regulations and the ambitions of the European Green Deal. And the European Commission will work towards an operational EU reporting structure that can inspire other partner jurisdictions."
People:Valdis Dombrovskis
