ecoDa/Breaking news/NFRD-Taxonomy-Fiduciary duties

The European Commission has just published today a package of different measures:

1- EU Taxonomy Climate Delegated Acts;

2-  A proposal for a Corporate Sustainability Reporting Directive (CSRD) – replacing the NFRD (see direct link to the proposal: https://ec.europa.eu/finance/docs/law/210421-proposal-corporate-sustainability-reporting_en.pdf )

3-  Six amending Delegated Acts on fiduciary duties, investment and insurance advice

06/05/2021 High-level conference on the review of the Non-Financial Reporting Directive – the way forward

The Non-Financial Reporting Directive (NFRD) requires certain large companies to report on social, employee and environmental matters, human rights and bribery & corruption. However, the information that is currently reported does not meet the needs of users.

The European Commission is reviewing the NFRD in order to remedy this and to ensure that companies from whom users need non-financial information report such information, and that reported information is relevant, comparable, reliable, and easy to access and use.

The proposal for a Sustainability Reporting Directive is expected to be published in April 2021 for consideration by the European Parliament and the Council.

This high-level conference is an opportunity for interested parties to find out more about the key issues and the objectives of the proposal and of its concrete implications. It will alternate between panels and keynote speeches from European and international leaders in the field of sustainable finance, including Commissioner McGuinness. The panels will address, among other topics, the role of sustainability reporting standards in promoting better sustainability disclosures from companies.

For register CLICK HERE

ecoDa – EU Alert – Week 6

It Includes:

  • EC: Summary Report of the Consultation on the Renewed Sustainable Finance Strategy
  • EC: Study on equity funding in the EU 
  • EC: Consultation on environmental crime 
  • ESMA: Calls for legislative action on ESG ratings
  • EP: Measures to protect investors and cut red tape for firms
  • Discussion with Colin Mayer: The future of stakeholderism post covid
  • Report: Corporate Governance for sustainability 
  • The launch of the International Federation of Family Offices
  • Black Rock: Climate change as a front and center strategic matter
  • Sweden: Report on Corporate Governance and Short-termism
  • Event: The governance of technology

 

ecoDa – EU Alert – Week 5

It includes:

  • EC: Evaluation of the audit framework
  • EC: McGuinness’ opening remarks at the ECON Committee structured dialogue 
  • EC: Request to ESAs for technical advice on digital finance
  • Report: Fraud: recommendations to strenghten the financial reporting ecosystem (Accountancy Europe)
  • Summary report: ecoDa-Mazars’s Joint Event “Sustainable Corporate Governance for long-term business success”
  • Article: US Corporate Boards suffer from inadequate expertise in financially material ESG matters 
  • Podcast: How boards should prepare for the rising cybersecurity threat (McKinsey & Company)
  • UK: Directors face new liability demands under major audit reform 

ECB: asked banks to refrain from or limit dividends until September 2021 – ecoDa’s EuAlerts 53

It includes:

  1. Council: The Portuguese Presidency (Cicero/AMO Analysis
  2. ECB: asked banks to refrain from or limit dividends until September 2021
  3. EC: New EU Cybersecurity Strategy and new rules
  4. EC: Interim study on the integration of ESG factors into the EU banking prudential framework
  5. EBA: Consultation Paper on Draft Guidelines on sound remuneration policies
  6. IFRS Foundation’s consultation on sustainability reporting
  7. INSEAD: Boards and sustainability: From Aspirations to Action
  8. UK: FCA introduces rule to enhance climate-related disclosures
  9. Report: Pay ratios and the FTSE 350: an analysis of the first disclosures
  10. EFRAG series of events on the preparatory work on EU non-financial reporting standards

 

Per scaricare EU Alert CLICCA QUI

ecoDa Newsletter – Dec 2020

1. Ethics & Boards joins ecoDa as a Data Partner

ecoDa is delighted to announce a partnership with the data provider, Ethics & Boards. This new collaboration comes at a time when structured data at European level is a must-have when providing information to the European Institutions regarding their policies and supporting their upcoming initiatives.

As stated by Jan Wesseldijk, ecoDa’s Chair, “our partnership with Ethics & Boards will allow us to correlate the trends that we observe with concrete figures”, while Floriane de Saint Pierre, Founder and President of Ethics & Boards welcomes “this new collcaboration with ecoDa, a key player in Corporate Governance at European level and we are looking forward to the upcoming dialogue”.

See the full press release HERE

2. ecoDa – Mazars Event on “Sustainable Corporate Governance for Long Term Business Success”

ecoDa and Mazars are delighted to invite you to join a live virtual event on sustainability and corporate governance in Europe, scheduled on the 19th of January, from 4.00 to 6.00 pm CET.

This event will bring together board members, investors and regulators from across Europe to discuss the role we all have to play in fostering an ecosystem that promotes long-term sustainable success for the benefit of all stakeholders in a business and society at large.

Topics to be covered include:

  • The key challenges for corporate governance systems across Europe, including climate change, the impact of technology, effects of Covid-19, tensions in free trade, and diversity.
  • The possible changes to the regulatory system in the 2020s.
  • How boards can get the right board in place to achieve their full potential. How different boards will look by 2030, in terms of diversity, roles represented, international membership, etc.

The changes expected in investors’ focus over the next decade, and how this will impact their approach to governance.

To register HERE

3. ecoDa’s Webinar on “ESG: From Awareness to Strategic Moves”

ecoDa is organizing a webinar on “ESG: From Awareness to Strategic Moves” on the 10th of February, from 9.30 to 12.45 CET.
The purpose of this webinar is to bring together standard-setters and company directors together to discuss examples of good practices.

The discussion will be structured around two panels. The first one will focus on ESG performance and the consequent changes happening at board level, while the second will be an inspirational discussion for board members to walk to talk. The event will include speakers from DG FISMA, EFRAG, B-Corp Lab, S&P Global Ratings as well as board members from across Europe.

To register HERE

4. 4th Edition of ecoDa’s Corporate Governance Dialogue

Earlier this year, the 4th edition of the Corporate Governance Dialogue was organized by ecoDa. This year’s theme was on less hierarchical organizations and flat management, two trends that have been accelerated by the Covid crisis.
The Dialogue, based on two case studies from Mercuri Urval and Decathlon, engaged different experts who concluded that the slow but steady replacement of traditional top-down hierarchies with more decentralized structures impacts not only the way companies are operating but also corporate governance as a whole.

A recording of the discussion as well as a summary report are available.

5. Season’s Greetings from ecoDa

EP: MEP’s blueprint for SMEs in post-COVID recovery – ecoDa EuAlerts 51

It Includes:

  1. EP: Businesses’ interests must align with society’s interests, MEPs
  2. EP: MEP’s blueprint for SMEs in post-COVID recovery
  3. ESMA: Response to the IFRS Foundation’s consultation on sustainability reporting
  4. EC: Commissioned Study on EU equity markets
  5. The EC’s consultation on Sustainable CG: Comments from the European Company Law Experts Group
  6. Due diligence: NGOs initiative pleading for a European legislation
  7. Study: The 2020 Virtual Shareholder Meetings in the EU
  8. The Council for Inclusive Capitalism launches a partnership with the Vatican
  9. Report: Making the most of Europe’s climate leadership
  10. Briefing: Why Covid did not change firms (Korn Ferry)
  11. Report: A reexamination is needed of how traditional audit procedures approach the risk of fraud (EY)
  12. ecoDa’s News

ESMA: Underlined paradoxes of sustainability reporting – EcoDa EuAlert 50

It includes:

  1. EP: Welcomed the OECD for a presentation on Sustainable Corporate Governance and Corporate Due Diligence
  2. EU: Amendments to rules to make capital markets work for Europe’s recovery
  3. ESMA: Underlined paradoxes of sustainability reporting
  4. US: ISS and Glass Lexis Release Updated Proxy Voting Guidelines
  5. ICGN: Review its Global Governance Principles
  6. ECGI Past Webinar on “Stakeholder Capitalism: The Case For and Against”
  7. Working Paper: The European Commission’s Sustainable Corporate Governance Report: A Critique (ECGI)
  8. . There is no need for EU Regulation on Corporate Governance, said SMEunited
  9. ecoDa’s News

Council: Approved conclusions regarding human rights and decent work in global supply chains – EcoDa EuAlert 49

It includes:

  1. EC: Consultation on the Impact Assessment on the Enrivonmental Crime Directive
  2. Council: Approved conclusions regarding human rights and decent work in global supply chains 
  3. EC: 2021 Work Programme
  4. Council: recommendations regarding the EC’s new action plan on the Capital Markets Union
  5. EP:Wirecard Case Scrutinised
  6. UK: New Research supports introduction of standards for Audit Committees, FRC says
  7. UK: to review dual-class shares as part of consultation on listings
  8. Switzerland: the referendum failed to hold corporations liable for violations abroad
  9. Working Paper: The Future of the Corporations and the Economics (ECGI)
  10. Reflection Paper by CSR Europe: For a Coherent and Integrated EU Approach to Due Diligence 
  11. ecoDa’s News

EC: Consultation on criteria defining environmentally sustainable activities – EcoDa EuAlert 48

It includes:

  • EC: Consultation on criteria defining environmentally sustainable activities
  • EC: FISMA commissioned a study on the Audit Directive and Regulation
  • EP: EU consumers will soon be able to defend their rights collectively
  • Implications of the Wirecard case
  • UK: Covid-19 strenghtens the need for audit improvement, FRC urges
  • UK: Reporting on the new Corporate Governance Code is a mixed picture 
  • Switzerland: Upcoming Referendum on corporate sustainability
  • Germany: ‘historic’ mandatory boardroom quota for women
  • France: Danone: Purpose driven companies cannot let aside shareholders’ interests
  • France: A new initiative to promote gender diveristy in boardrooms 
  • The IIRS and the SASB merge into the Value Reporting Foundation  
  • ecoDa’s News