The German association of industrial energy consumers (VIK e.V.) welcomes an opportunity to provide feedback on Corporate Sustainability Reporting Directive proposal. The coherence provision of reporting requirements between the Non-Financial Reporting Directive and other sustainable finance legislation should take into consideration possible implications for affected businesses.
A special attention should be paid to the following issues: an introduction of European sustainability standards should be fundamentally discussed, especially the legal compatibility of European reporting standards and International Financial Reporting Standards; the future adoption of European standards and mandatory obligation to perform EU-wide audit should not cause double regulations, uncertainties and emergence of unnecessary bureaucratic burdens. Affected businesses should not be endangered by possible public disclosure obligations regarding financial and non-financial data. Finally, new sustainability reporting standards should not influence on the provision of bank loans and credits to companies.