聚焦欧盟综合提案——对可持续性数据的影响

Core Viewpoint - The European Commission has proposed a comprehensive reform plan for its sustainable finance agenda, aiming to simplify EU requirements and enhance competitiveness, which includes reducing the number of companies subject to disclosure rules and simplifying technical requirements related to those disclosures [1][3]. Summary by Sections Background of the Comprehensive Proposal - The EU's sustainable finance strategy has introduced several initiatives to direct capital towards environmental goals, including the EU Taxonomy, the Corporate Sustainability Reporting Directive (CSRD), and the Corporate Sustainability Due Diligence Directive (CSDDD) [2]. Proposal Highlights - The comprehensive proposal includes three main suggestions: 1. Amendments to the CSRD and CSDDD to reduce the number of companies required to disclose under CSRD by approximately 80% and exempt many small companies from CSDDD compliance [4]. 2. Delaying the reporting timeline for companies originally set to report in 2026 and 2027 by two years and extending the transposition deadline for CSDDD to 2028 [5]. 3. Revising the EU Taxonomy reporting requirements to reduce reporting templates by 70% and introducing a materiality assessment mechanism, making disclosures voluntary for companies with qualifying activities below 10% [6]. Impact on Investors - Investors have a strong demand for data to integrate sustainability considerations into their investment strategies, with over 80% of asset owners already implementing such practices [8]. - Despite the simplification of the European Sustainability Reporting Standards (ESRS), the EU's sustainable finance framework will still generate detailed reports on corporate sustainability issues, aiding investors in understanding sustainability factors and managing risks [8]. - The proposal maintains consistency between CSRD and other elements of the sustainable finance framework, ensuring that investors can meet reporting requirements for key performance indicators [8]. Data Coverage and Concerns - Some investors express concerns that the proposal may reduce the comprehensiveness of sustainability data available to them, potentially leading to investments in companies that continue to report [10]. - The demand for sustainability data has outpaced what companies can provide, leading data providers to use proxy and estimated data, which may increase costs and risks for investors [11]. LSEG's Solutions - LSEG is adapting its sustainable finance data and analytics solutions to align with the proposed changes, ensuring the quality of its datasets meets evolving regulatory requirements [11]. - The company is committed to helping clients interpret and apply sustainability data effectively, integrating necessary updates into their workflows [11]. Global Regulatory Framework - The EU regulatory framework is designed to be interoperable with emerging global frameworks, particularly those set by the International Sustainability Standards Board (ISSB), providing guidance for industry-specific reporting [12]. Conclusion - The proposal will be reviewed by the European Parliament and the EU Council, and adjustments may occur during negotiations. LSEG is closely monitoring these developments to assist clients in navigating changes in the EU sustainability information disclosure landscape [14].