EU Corporate Sustainability Reporting Directive Briefing
Publications
In April, the European Commission put forward a proposal for a new Corporate Sustainability Reporting Directive (CSRD). Sector-specific standards will be developed, and the European Parliament has stressed the importance of identifying high-risk sectors. In the context of the global climate crisis and the European Green Deal, Publish What You Pay (PWYP) advocates for the CSRD to address major risks arising from the extractive sector and harness the sector’s potential to contribute to the Green Deal.
PWYP has developed a series of recommendations to EU policy makers, highlighting the necessity to ensure specific sustainability disclosures for extractive companies. Standardised, consistent and comprehensive project-level information on extractive industry company operations, contracts, risks and payments to governments, will help increase awareness and understanding among policy makers, investors, civil society, and those affected by oil, gas and mining of the wider costs, benefits and risks of extraction, improving public accountability, policy responses and capital allocation.
PWYP is a member of the Alliance for Corporate Transparency, whose general recommendations for the upcoming CSRD can be seen here.
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