FuelsEurope supports the EU's ambitions for significant corporate sustainability reporting policies and believes that effective non-financial reporting practices have great potential for investors to engage in low-carbon and renewable energy projects.
However, the CSRD has brought forward concerns about excessive regulatory burden, legal uncertainty, and unintended negative consequences that should be addressed and corrected.
In this context, FuelsEurope welcomed the European Commission’s initiative for an Omnibus on corporate sustainability, as well as the revision of the European Sustainability Reporting Standards (ESRS) by EFRAG. We remain committed to engaging in the legislative process to promote a reporting framework that is clear, proportionate, and workable in practice.