The changes to the European Commission’s sustainability reporting standards for companies, the so-called ESRS standards, are welcomed by the Confederation of Danish Industry. They support the sustainable transition, where companies can focus on making sustainable mitigation strides and naturally incorporate and anchor the reporting on this, SAYS Emil Fannikke Kiær, Political Director at DI, in a press release. 

The changes will ensure easier implementation for companies without compromising on the level of ambition. At the same time, the European Commission estimates that the changes will lead to significant reductions in the large administrative costs.

”We fully support the common EU standards that will apply in the green area across the 27 European member nations, and we are pleased with the Commission’s easing of the administrative burden,” says the political director in the communication. 

According to DI, the phasing-in of the new requirements will save European companies EUR 1,172m. The introduction of materiality requirements will permanently save European companies EUR 230m.