CSR News - June 2025

👉 Amendment to Regulation (EU) 2023/956 on the simplification and strengthening of the Carbon Border Adjustment Mechanism

On 22 May 2025, the European Parliament approved the Commission’s proposal to simplify the EU Carbon Border Adjustment Mechanism (CBAM). Part of the “Omnibus I” simplification package introduced on 26 February 2025, the proposal aims to exempt the vast majority of importers (90%) - mainly SMEs and individuals - who import only small quantities of covered goods. However, 99% of CO₂ emissions linked to imports of iron, steel, aluminium and cement will remain subject to CBAM.

Source: European Parliament, 05/22/2025

👉 IFRS publishes guidance on GHG disclosure under S2

On 29 May 2025, the IFRS Foundation published a document containing educational material on the requirements of IFRS S2 “Climate-related Disclosures” regarding the measurement and disclosure of greenhouse gas emissions. The material is presented in the form of a FAQ, outlining an entity’s obligations for reporting its greenhouse gas emissions in accordance with IFRS S2.

Source: IFRS, 05/29/2025

👉 EFRAG releases digital VSME model and XBRL taxonomy

As part of the release of various deliverables related to the VSME standard, EFRAG published on 27 May 2025 the first version of the digital VSME model and the accompanying XBRL taxonomy. The digital model enables efficient and user-friendly reporting, offering interactive features, automated calculations, consistency checks, and direct links to the relevant texts and guidelines intended for micro and small enterprises. The XBRL taxonomy allows for smooth digital reporting and data exchange, independent of software and vendors. It is accompanied by a free and open-source converter from digital templates to XBRL format.

It should also be noted that EFRAG released a series of educational videos on the VSME standard on 7 May 2025.

Source: EFRAG, 05/27/2025

👉 Withdrawal of ISAE 3410 for assurance engagements on greenhouse gas statements - IAASB

The International Auditing and Assurance Standards Board (IAASB) has approved the withdrawal of the International Standard on Assurance Engagements (ISAE) 3410, Assurance Engagements on Greenhouse Gas Statements. This decision follows the approval and issuance in 2024 of the International Standard on Sustainability Assurance (ISSA) 5000. ISSA 5000 covers assurance on all types of sustainability-related information, including greenhouse gas emissions. The withdrawal of ISAE 3410 will take effect upon the entry into force of ISSA 5000, on 15 December 2026.

Source: IAASB, 05/08/2025

👉 Consultation on a series of amendments to GRI sector standards

The Global Reporting Initiative (GRI) launched a consultation on 15 May 2025 regarding a document proposing a series of amendments to the GRI sector standards. The aim is to ensure their alignment with the latest thematic standards on biodiversity (GRI 101), climate change (GRI 102), and energy (GRI 103). The consultation is open until 13 July 2025.

Source: GRI, 05/15/2025

👉 Consultation on RTS for ESG rating providers - ESMA

The European Securities and Markets Authority (ESMA) published a consultation paper on 2 May 2025 regarding draft Regulatory Technical Standards (RTS) under the ESG ratings regulation adopted in late 2024. The regulation requires the authorisation and supervision of ESG rating agencies, as well as the disclosure of key methodologies and data sources used. The public consultation on the RTS is open until 20 June 2025.

Source: ESMA, 02/02/2025

👉 2024 Annual Report - H2A

On 27 May 2025, the Haute Autorité de l’Audit (H2A) published its annual report for the year 2024. The report reveals that H2A approved 10 training programmes and registered 1,484 statutory auditors authorised to certify sustainability information, along with 9 sustainability auditors and 10 independent third-party bodies. According to H2A, these figures reflect an “unprecedented mobilisation of professionals” and demonstrate their “commitment to supporting companies in their ecological transition."

Source: H2A, 05/27/2025

👉 2024 Annual Report - EFRAG

On 26 May 2025, EFRAG published its annual report, providing an overview of its activities, key milestones, and strategic developments over the past year. The report also outlines EFRAG’s priorities for 2025, including continued technical work on sustainability topics, promoting connectivity between financial and sustainability reporting, and strengthening international cooperation.

Source: EFRAG, 05/26/2025

👉 Corporate Knights ranks Europe's top 50 sustainable firms: The new Europe 50 ranking highlights companies driving ESG progress across sectors. Leaders include Mercedes-Benz, Puma, and Pirelli. Europe's regulatory edge and long-term vision explain its dominance in global sustainability.

Source: Corporate Knights, 06/09/2025

👉 ESMA tightens ESG fund naming rules: ESMA published new guidelines on ESG-related fund names. Terms like "ESG", "Impact" or "Transition" are now subject to clear investment thresholds. Rules apply now to new funds and from May 2025 to existing ones.

Source: Carbon4Finance, 06/05/2025

👉 Responsible investment in France reached €2,700 billion in assets under management in 2024, driven mainly by SRI and ESG integration strategies, confirming steady growth despite tighter regulations.

Source: L'info Durable, 04/03/2025

👉 Asset Manager DWS fined €25M for greenwashing: German prosecutors fined asset manager DWS €25M for misleading ESG claims. Despite positioning itself as an ESG leader, the firm was found guilty of overstating its sustainability credentials after a multi-year probe.

Source: Reuters, 04/02/2025

👉 EU moves to simplify CSRD reporting: The European Commission has asked EFRAG to fast-track simplified sustainability reporting standards under the CSRD. Objective: ease the burden on companies while maintaining ESG disclosure quality.

Source: ESG Today, 04/01/2025

👉 ISS ESG launches Sustainability Bond Rating: ISS ESG has unveiled a new rating to assess the impact and risks of corporate and sovereign green, social, sustainability and sustainability-linked (GSSS+) bonds, aiming to bring more transparency to sustainable debt markets.

Source: ESG Today, 04/03/2025

👉 ICMA calls for simpler EU sustainable finance rules: ICMA has published recommendations to streamline the EU’s sustainable finance framework. The goal: reduce complexity, improve usability, and align regulatory requirements with market realities.

Source: ICMA Group, 05/02/2025

👉 SEC drops defense of climate disclosure rule: The U.S. SEC has withdrawn its defense of the climate risk disclosure rule in court. The move casts doubt on the rule’s future and highlights growing legal and political pressure around ESG regulation in the U.S.

Source: ESG Dive, 03/28/2025

👉 UKSIF calls to unlock pension capital for sustainability: UKSIF’s new report urges better use of UK pension assets to support sustainable growth. The recommendations aim to align long-term capital with positive economic and environmental outcomes.

Source: UKSIF, 04/14/2025

👉 EBA adds ESG indicators to bank risk assessments: The EBA has updated its risk analysis framework to include ESG indicators. This marks a regulatory milestone, with sustainability metrics now part of the core risk monitoring for over 50 major European banks.

Source: EBA, 04/16/2025

👉 New report highlights ESG data gaps: Responsible Investor has released its 2025 Data & Disclosure report, revealing persistent challenges in ESG data quality, standardisation, and transparency - key barriers to effective sustainable investment.

Source: Responsible Investor, 04/10/2025

👉 IFC launches update of sustainability framework: The IFC has released an approach paper outlining its plan to revise the Sustainability Framework. The update aims to reflect evolving global ESG standards and strengthen impact, especially in emerging markets.

Source: IFC, 04/28/2025

👉 McKinsey releases 2025 Private Markets Report: The 2025 edition highlights a slowdown in private equity deal activity, growing LP pressure on ESG performance, and a shift toward value creation through sustainability and operational resilience.

Source: McKinsey, 05/20/2025

👉 EU launches call for evidence on SFDR reform: The European Commission is seeking input to revise the SFDR. The goal: simplify the framework, ease compliance burdens, and improve its effectiveness for investors and market participants.

Source: ESG Today, 05/08/2025

👉 Invest Europe has released a new ESG reporting template for private equity and VC. The tool aims to streamline and standardise ESG data sharing across the investment chain.

Source: Invest Europe, 05/26/2025

👉 UK regulator opens consultation on climate risk supervision: The Bank of England has launched a consultation on how it supervises climate-related financial risks, aiming to clarify expectations for firms and enhance the resilience of the UK financial system.

Source: Green Central Banking, 05/02/2025

👉 MSCI to update models with new NGFS climate scenarios: MSCI will revise its climate risk models using the latest short-term scenarios from the NGFS, aiming to provide investors with sharper insights into near-term transition and physical climate risks.

Source: Responsible Investor, 05/16/2025