ESG reporting: What German CFOs have to say

Sustainability reporting is intended to support the transformation of companies – but many German CFOs are currently experiencing the opposite: too many data points, unclear requirements and high administrative costs for implementing the standards. As part of Omnibus I, the EU Commission has undertaken to simplify and streamline European standards for sustainability reporting.

The study ‘ESG reporting: What German CFOs have to say’ by Deutsches Aktieninstitut and the auditing firm EY identifies specific proposals for revising the EU standards for sustainability reporting (ESRS). These include:

• a significant reduction in data points
• clear and understandable reporting requirements
• better alignment with international standards such as the ISSB standards
• more flexibility in the EU taxonomy

The survey participants want European standards that are lean and understandable and lead to information that is relevant for decision-making. The German version of the "ESG reporting: What German CFOs have to say" study can be found here.