The members of the Steering Group of the European Corporate Reporting Lab, an initiative part of the European Commission’s Sustainable Action Plan, have been appointed by the European Financial Reporting Advisory Group (EFRAG).
The Lab is part of Action #9 (Strengthening sustainability disclosure and accounting rule-making) of the Commission’s plan, alongside the fitness check on EU legislation on public corporate reporting (including the Non-Financial Reporting directive), and underpinning Action #7 (Clarifying institutional investors’ and asset managers’ duties).
EFRAG, a private association whose main mission is to advise the EC on the endorsement of international financial reporting standards, has been tasked with the initiative which seeks “to stimulate innovation in the field of corporate reporting by identifying and sharing good practices”.
The Steering Group will guide and advise on the work of the European Lab, as well as monitor its progress.
The idea of a Lab, similar to the one run by the UK Financial Reporting Council since 2011, had been in the past proposed by Accountancy Europe, the federation of professional bodies. Hilde Bloome, Deputy CEO of Accountancy Europe is a member of the Group.
The Vice-Chairman of the Group is Alain Deckers, who is closely involved in non-financial reporting as the EC’s Head of unit, Accounting and financial reporting at the Commission’s Directorate-General Financial Stability, Financial Services and Capital Markets Union (DG FISMA), the department which oversees banking and finance.
Among the 15-strong Group is Ossian Ekdahl, Chief Active Ownership Officer of Swedish pension fund AP1, representing the European Confederation of Directors’ Associations (ecoDa). Other members include:Filip Gregor, who is Head of the Responsible Companies Section at Frank Bold, the public interest law group focused on company law issues.
Steven Marcus Tebbe, Managing Director, Europe at CDP
Flavia Micilotta, Executive Director of Eurosif, the sustainable investment body.
Arlene McCarthy, the former MEP who was a member of the now discontinued High-Level Expert Group on Sustainable Finance (HLEG). Currently Special Advisor to the Chairman of Bloomberg.
Jason Mitchell, who is Co-Head of Responsible Investment and Co-Chair of the Responsible Investment Committee at Man Group, the London-listed alternatives firm.
Imre Guba, Director, Sustainable Finance and Accounting Specialist at S&P Global Ratings.
Esko Kivisaari, Deputy Managing Director of Finance Finland, chair of the Insurance Committee at the Actuarial Association of Europe and a and former HLEG member.
The other members are: Simonetta Ferrari, Elisabeth Gambert (CSR & International Affairs Director for AFEP, Association Française des Entreprises Privées), Sebastien Godinot (WWF economist), Albert Hasselmeyer (member of the Accounting Standards Committee of Germany), Nancy Kamp-Roelands (a professor of non-financial information, integrated reporting and assurance at the University of Groningen and an associate partner at EY), and Linda Nielsen (a Danish academic).
The first meeting of the Lab is scheduled for 27 November.