EU needs to build on its legacy to achieve green growth
Published date: 13 March 2025
Medium article by Carol Adams, Chair of the GSSB
As negotiations are underway that seek to significantly reduce the scope of the EU Corporate Sustainability Reporting Directive (CSRD), the Chair of the Global Sustainability Standards Board has emphasized how lessons from the past demonstrate that short-term pressures to weaken regulations and transparency can lead to long-term costs and lost opportunities.
Financial reporting harmonization in Europe faced resistance on the basis of perceived reporting burden and compliance cost – similar to those being leveled at the CSRD. Yet economic and global development benefits have been realized in recent decades, due to the persistence to implement these important changes.
In this Medium article, Carol Adams sets out why now is the time for the EU to show global leadership:
The EU should remember how past leadership on corporate reporting created a competitive advantage
Good quality sustainability reporting is a key part of the formula for delivering the results that Europe is seeking to achieve: green growth, a healthy society, clean industry, resource efficiency and greater energy independence. Change will always face resistance, but true leadership requires a clear perspective on the future you want to create."
Carol Adams, Chair of the GSSB