The EU is reviewing harmonisation of its Non-financial Reporting Directive (NFRD) for corporates with the disclosure and green taxonomy laws for companies and investors that emerged from the Action Plan on Sustainable Finance in a consultation released yesterday.
The consultation is the latest step in the revision of the Non-financial Reporting Directive, (NFRD), a priority under Europe’s Green Deal.
The NFRD predates the new disclosures and taxonomy laws of the Action Plan, and the EU wants to make sure the different rules complement each other rather than clash.
As reported by Responsible Investor, the EC expects to draft new related laws - possibly a Regulation, which is directly applicable EU law, instead of a Directive, which is also EU law but gives leeway to EU member states on how to adopt it - by Autumn this year.
One of the key areas in the new consultation for investors and other stakeholders is how the NFRD and the disclosure …