In view of the range of legislative initiatives in the pipeline of the European legislator regarding sustainability in general and the obligation for entities to report on their environmental, social and governance (ESG) data, regulations are increasingly emphasizing the responsibility of companies to be as transparent as possible with regard to all sustainability related topics.
EY Law is developing its sustainability and ESG expertise with a focus on, among others, the future legal implementation of the Corporate Sustainability Reporting Directive (CSRD). To date, it is estimated that nearly 50,000 entities would be affected by these new provisions.
On the other hand, the Belgian legislator is already considering amending certain existing laws, such as the Belgian Companies and Associations Code in order to implement these new European obligations.
To better inform and support Belgian entities in their transition towards compliance with these new European legislations, you will find in this section some insights on new ESG and sustainability obligations. EY Law can of course assist your company in understanding the new ESG and sustainability obligations and how to comply with them.
Key aspects of the EU Carbon Border Adjustment Mechanism (CBAM)
The Corporate Sustainability Reporting Directive (“CSRD”)
SFDR: The ‘comply or explain’ Regulation
The Non-Financial Reporting Directive 2014/95/EU with respect to non-financial reporting and diversity (“NFRD”)
Amendment of the companies and associations Code: will Belgium introduce a balance of greenhouse gas emissions in the annual reports?