Global body urges EU to make company life simpler by aligning climate reporting

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The European Union should make extra time to align its policies with international rules on reporting on climate change to save time in the long run and simplify life for companies, global standard setting board said on Wednesday.

That could mean extending slightly a November deadline to complete drafts as the EU draws up the text on mandatory disclosures for 50,000 companies in the bloc to disclose how climate change affects their business.

ISSB chair Emmanuel Faber said the board holds weekly meetings with the EU's standards writing body EFRAG, but that the time pressure the EU is under creates "complexities".

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