Diana Ribeiro Duarte, Pedro Capitão Barbosa, João Bernardo Silva and Sofia Araújo Matias wrote for IFLR

In the opinion piece "European Commission adopts first sustainability reporting standards", the four Morais Leitão lawyers analyse the standards adopted across the EU to encourage companies to present uniform and transparent sustainability reports.

Diana Ribeiro Duarte, Pedro Capitão Barbosa, João Bernardo Silva and Sofia Araújo Matias states "On 31 July 2023, the European Commission (EC) adopted a delegated act containing the first set of European sustainability reporting standards (ESRS).

These are standards that both large and small and medium-sized companies whose securities are admitted to trading on regulated EU markets, as well as the parent companies of large groups, must refer to and include in a specific section of their management reports. This is in line with Directive 2013/34/EU on the annual financial statements (Accounting Directive), consolidated financial statements and related reports of certain types of companies, as amended by Directive (EU) 2022/2464 (Directive on corporate sustainability reporting - CSRD). [...]".

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