25/01/2022 - EFRAG welcomes thirteen new member organisations in sustainability reporting
EFRAG is glad to announce milestones in its governance reform relating to the integration of the sustainability pillar in its structure. EFRAG welcomes the membership of thirteen organisations with an interest in sustainability reporting.
Read the complete press release here.
On 21 January, the EFRAG General Assembly reached key milestones:
- The revision of the EFRAG Statutes and Internal Rules were approved. These form the legal basis for the implementation of the governance;
- EFRAG has extended its membership to be more inclusive of the wide range of sustainability reporting stakeholders.
All seventeen existing EFRAG Member Organisations that contribute to the financial reporting pillar have agreed to join the sustainability reporting pillar. Thirteen new member organisations have joined.
In the European Stakeholders Organisations Chapter:
- EFAMA (sector asset management)
- EuropeanIssuers (sector business-listed companies)
In the Civil Society Organisations Chapter:
- NGO sector:
- The Climate Finance Fund of the European Climate Foundation
- Economy for the Common Good (ECG);
- Environmental Defense Fund Europe (EDF Europe)
- Frank Bold Society
- Publish What You Pay
- Transport & Environment (T&E)
- WWF
- Consumer organisations sector:
- BETTER FINANCE
- Finance Watch
- Trade unions sector:
- European Trade Union Confederation (ETUC)
- Academics sector:
- European Accounting Association
EFRAG General Assembly meetings, in which further new member organisations can be admitted, will take place on 15 February, 1 and 15 March 2022. Also, after these dates, organisations can still join.
EFRAG also introduces the Friends of EFRAG-Sustainability Reporting whereby entities can give their individual support to EFRAG’s mission and support EFRAG’s sustainability reporting activities. EFRAG is pleased to announce that Angela Impact Economy and ENGIE are the pioneers in the Friends of EFRAG-Sustainability Reporting. Other entities are very welcome to follow them.
EFRAG Board President Jean Paul Gauzès, commented on the new composition: “I am very pleased that within less than a year since I submitted my report with recommendations to Commissioner McGuinness, we have been able to make big steps forward in implementing the governance reform. It is very encouraging that so many new organisations have joined the EFRAG membership in the sustainability reporting pillar giving remarkable support to the role of EFRAG as technical adviser to the European Commission in providing draft EU Sustainability Reporting Standards. EFRAG will greatly benefit from their relevant experience and knowledge from so many different backgrounds.
I am delighted that all existing Member Organisations, without any exception, have also agreed to participate in and contribute to the sustainability reporting pillar. Eleven organisations give valuable membership to the Civil Society Organisations Chapter representing all sectors. I also welcome the two new organisations in joining the European Stakeholder Organisations Chapter.
I hope that other companies and organisations will follow the initiative of Angela Impact Economy and ENGIE and will join the EFRAG Friends-Sustainability Reporting.
With the legal basis in place, we will rapidly continue with the implementation of the EFRAG governance reform. You can soon expect calls for candidates for the EFRAG Sustainability Reporting Board and for the EFRAG Sustainability Reporting TEG and its Chair.
I welcome the support of the new EFRAG Administrative Board in the governance reform implementation process being responsible for EFRAG’s organisation, administration, finance and due process.”
Read the complete press release here.
