German counterpart DVFA have called for companies to formally orient their environmental, social and governance (ESG) reporting towards International Financial Reporting Standards.
EFFAS, the European Federation of Financial Analysts Societies, and Germanys Society of Investment Professionals say they strongly recommend including ESG and corporate social reporting data as an integral part of statutory and legally required financial reporting.
Consequently, the DVFA Committee on non-financials suggests that companies formally orient ESG reporting towards the requirements of the International Financial Reporting Standards (IFRS) as published by the International Accounting Standards Board, they state in a new report.
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