Research report 2022 - Max Planck Institute for Tax Law and Public Finance
Climate Protection via Accounting Law
Max-Planck-Institut für Steuerrecht und Öffentliche Finanzen, München
SummaryTo achieve the goal of carbon neutrality, the European Union is placing large parts of its legal system under the guiding principle of sustainability. A recent example is the new Corporate Sustainability Reporting Directive. With this new legislative act, the European Commission is changing the scope and nature of sustainability reporting by companies. It gives non-financial reporting a similar status to financial ones, significantly expands the group of companies affected and tightens up the reporting requirements. And, more importantly, it also creates new standards of corporate governance.