The Corporate Sustainable Reporting Directive (CSRD) can channel financial flows into sustainability projects in particular if it succeeds in improving the transparency, availability and quality of the relevant information. The German Insurance Association (GDV) makes this clear in a feedback submission to the EU Commission. "Investors need reliable and comparable information to make better and more sustainable investment decisions. The directive - if implemented as it stands - would take the EU a big step forward in this regard," says Jörg Asmussen, Chief Executive Officer of GDV.
At the same time, he said, the interests of the companies that have to collect and provide the information must be taken into account. For many, that would mean a considerable amount of work. GDV also cautions that integration into the European Union's overall sustainability instruments and a clear differentiation between the information needs of investors and the general public remain open in many places. Overall, however, GDV welcomes the EU Commission's draft. "The timetable that the EU is aiming for is particularly ambitious. The first sustainability information under the new rules should be available as early as 2024 for the reporting year 2023," adds Jörg Asmussen.