Dies ist eine HTML Version eines Anhanges der Informationsfreiheitsanfrage 'Corporate Sustainability Reporting Directive'.

Compromise amendments to
DRAFT OPINION
of the Committee on Women's Rights and Gender Equality
on the proposal for a directive of the European Parliament and of the Council
amending Directive 2013/34/EU, Directive 2004/109/EC, Directive 2006/43/EC and
Regulation (EU) No 537/2014, as regards corporate sustainability reporting
COMPROMISE 1
Covered AMS 1 (Rapporteur), 42 (Kira Marie Peter-Hansen)
Recital 2 a (new)
Text proposed by the Commission
Gender equality is a human and fundamental
right and a key principle of the European Pillar
of Social Rights and according to the treaties the
EU must ensure its promotion in all its activities
and actions. (AM 42) Despite being enshrined in
the 
Treaty  on  the  Functioning  of  the  European
Union  (TFEU) the principle  of  “equal  pay  for
equal  work  or  work  of  equal  value”  has  been
hindered, mainly  due to  a  lack  of transparency
in pay systems, a lack of legal certainty regarding

the  concept  of  ‘work  of  equal  value’,  and  by
procedural  obstacles  faced  by  victims  of
discrimination.(AM1). 1 To enforce the right to
equal pay the Commission proposed, on 4 march
2021,    a  Pay  Transparency  Directive  as  key
action  based on Article 157(3) of the TFEU, 1b
introducing 

concrete 
measures 
regarding
reporting on the gender pay gap,
The Commission also announced the tabling of
a  legislative  proposal  to  combat  gender-based
violence  and  stressed  the  importance  for
Member  States  to  ratify  the International
Labour  Organisation  (ILO)  Convention  on
combating violence and harassment in the world
of work and implement the existing EU rules on
protecting workers from sexual harassment (42)

1Commission Staff Working Document evaluation of the relevant provisions in the Directive 2006/54/EC
implementing the Treaty principle on ‘equal pay for equal work or work of equal value, SWD(2020)0051, p.
53 -66.


COMPROMISE 2
Covered AMs 2 (Rapporteur) 44 (Pernille Weiss, Frances Fitzgerald, Christine Schneider),
Recital 2b new
Proposal for a Directive
Text proposed by the Commission
In its “Gender Equality Strategy 2020-2025”1a, the
Commission underlined that a broad range of talents
and skills contributes to better decision-making and
corporate governance and drives economic growth.

However, women’s under-representation in decision-
making positions in Europe's businesses and industry
persists. In this regard, the Commission committed to
pushing for the adoption of the 2012 proposal of the
so-called “Women on Boards” Directive that sets the
aim of attaining a minimum of 40% of non-executive
members of the under-represented sex on company
boards, in order to improve gender balance on the
boards of large EU listed companies by sharing
information on companies; the matter of women’s
underrepresentation in the labour market has been
also addressed by the Work-life Balance Directive (AM
2).1b 
In order to assess the extent to which the
companies take into account diversity in their board
and management composition may for example
improve the quality of their leadership and decision-
making, especially in relation to performance on
sustainability issues, further studies in this field should
be encouraged. Welcomes in this regard efforts already
made by companies and public and private funds that
implement diversity policies, notes in this regard the
Diversity Commitment initiative (AM 44)

----------------------------------------------------------------------------------------------------------
1a Communication  of  the  Commission  to  the  European  Parliament,  the
Council, the European Economic and Social Committee and the Committee
of the Regions on “A Union of Equality: Gender Equality Strategy 2020-2025.
1b Directive (EU) 2019/1158 of the European Parliament and of the Council
of 20 June 2019 on work-life balance for parents and carers and repealing
Council Directive 2010/18/EU (OJ L 188, 12.7.2019, p. 79

COMPROMISE 3,
Covered AMs 3 (Rapporteur), 48 (Sylvie Brunet, Irène Tolleret, Samira Rafaela)
<<DocAmend>Proposal for a directive</DocAmend>
<Article>Recital 6</Article>

Text proposed by the Commission
Amendment
(6)
Directive 2014/95/EU of the European
(6)
Directive 2014/95/EU of the European
Parliament and the Council47 amended
Parliament and the Council47 amended
Directive 2013/34/EU as regards disclosure of
Directive 2013/34/EU as regards disclosure of
non-financial information by certain large
non-financial information by certain large
undertakings and groups. Directive 2014/95/EU
undertakings and groups. Directive 2014/95/EU
introduced a requirement on undertakings to
introduced a requirement on undertakings to
report information on, as a minimum,
report information on, as a minimum,
environmental, social and employee matters,
environmental, social and employee matters,
respect for human rights, and anti-corruption
respect for human rights, and anti-corruption
and bribery matters. With regard to these topics,
and bribery matters. With regard to these topics,
Directive 2014/95/EU required undertakings to
Directive 2014/95/EU required undertakings to
disclose information under the following
disclose information under the following
reporting areas: business model, policies
reporting areas: business model, policies
(including due diligence processes
(including due diligence processes
implemented), the outcome of the policies, risks
implemented), the outcome of the policies, risks
and risk management, and key performance
and risk management, and key performance
indicators relevant to the business.
indicators relevant to the business. Such
information to be (AMs 3, 48) reported by
undertakings may concern inter alia the
actions taken to ensure gender equality,
implementation of fundamental conventions of
the International Labour Organisation,
working conditions, social dialogue or health
and safety at work. (AMs 3, 48).

__________________
__________________
47 Directive 2014/95/EU of the European
47 Directive 2014/95/EU of the European
Parliament and of the Council of 22 October
Parliament and of the Council of 22 October
2014 amending Directive 2013/34/EU as
2014 amending Directive 2013/34/EU as
regards disclosure of non-financial and diversity
regards disclosure of non-financial and diversity
information by certain large undertakings and
information by certain large undertakings and
groups (OJ L 330, 15.11.2014, p. 1).
groups (OJ L 330, 15.11.2014, p. 1).
COMPROMISE 4
Covered AMs 4 (rapporteur) 49 (Kira Marie Peter-Hansen), 50, (Andżelika Anna
Możdżanowska) 51 (Pernille Weiss, Frances Fitzgerald, Christine Schneider)
Recital 8

Text proposed by the Commission
Amendment
(8)
The ultimate beneficiaries of better
The ultimate beneficiaries of better
sustainability reporting by undertakings are
sustainability reporting by undertakings are
individual citizens and savers. Savers who want
individual citizens and savers. Savers who want
to invest sustainably will have the opportunity
to invest sustainably will have the opportunity
to do so, while all citizens should benefit from a
to do so, while all citizens should benefit from
stable, sustainable and inclusive economic
a stable, sustainable, transparent, accountable
system. To realise these benefits, the
and inclusive socio-economic system (AMS 4,
sustainability information disclosed in
49). To realise these benefits, the sustainability
undertaking’s annual reports first has to reach
information disclosed in undertaking’s annual
two primary groups (‘users’). The first group of
reports first has to reach two primary groups
users consists of investors, including asset
(‘users’).The first group of users consists of
managers, who want to better understand the
investors, including asset managers, who want
risks and opportunities that sustainability issues
to better understand the risks and opportunities
pose to their investments and the impacts of
that sustainability issues pose to their
those investments on people and the
reputation and investment(AM 5) and the
environment. The second group of users
impacts of those investments on people,
consists of organisations, including non-
including to advance societal issues such as
governmental organisations and social partners,
gender equality and diversity (AM 51)
that wish to better hold undertakings to account
intersectionality and inclusion and the
for their impacts on people and the
environment. The second group of users
environment. Other stakeholders may also make
consists of organisations, including non-
use of sustainability information disclosed in
governmental organisations and social partners
annual reports. The business partners of
that wish to better hold undertakings to account
undertakings, including customers, may rely on
for their societal and environmental impacts
this information to understand, and where
(50)Other stakeholders may also make use of
necessary report on, the sustainability risks and
sustainability information disclosed in annual
impacts through their own value chains. Policy
reports. The integration of gender-related
makers and environmental agencies may use
information into sustainability reporting can
such information, in particular on an aggregate
also assist organizations in publicly
basis, to monitor environmental and social
demonstrating their accountability to women
trends, to contribute to environmental accounts,
and commitment towards gender equality and
and to inform public policy. Few individual
non-discrimination (49). The business partners
citizens and consumers directly consult
of undertakings, including customers, may rely
undertaking’s reports, but they may use such
on this information to understand, and where
information indirectly such as when considering
necessary report on, the sustainability risks and
the advice or opinions of financial advisers or
impacts through their own value chains. Policy
non-governmental organisations. Many
makersNGOs, social and economic partners
investors and asset managers purchase
and environmental agencies and other
sustainability information from third party data
stakeholders may use such information, in
providers, who collect information from various
particular on an aggregate basis, to monitor
sources, including public corporate reports.
environmental, ( AMs 4, 50, 51) social  and
gender equality trends (AMs 4, 49) 
to
contribute to environmental accounts, and to
inform public policy, including as regards
tackling discrimination (AM 50) 
Few
individual citizens and consumers directly
consult undertaking’s reports, but they may use
such information indirectly such as when

considering the advice or opinions of financial
advisers or non-governmental organisations.
Many investors and asset managers purchase
sustainability information from third party data
providers, who collect information from various
sources, including public corporate reports.
COMPROMISE 5
Covered AMs 5 (Rapporteur), 53 (Andżelika Anna Możdżanowska), 54 (Sylvie Brunet, Irène
Tolleret, Samira Rafaela)
Recital 9
Text proposed by the Commission
Amendment
(9)
There has been a very significant
(9)
There has been a very significant
increase in demand for corporate sustainability
increase in demand for corporate sustainability
information in recent years, especially on the
information in recent years, especially on the
part of the investment community. That
part of the investment community. That
increase in demand is driven by the changing
increase in demand is driven by the changing
nature of risks to undertakings and growing
nature of risks to undertakings and growing
investor awareness of the financial implications
investor awareness of the financial implications
of these risks. That is especially the case for
of these risks. That is especially the case for
climate-related financial risks. Awareness of the
climate-related financial risks. Awareness of the
risks to undertakings and to investments
risks to undertakings and to investments
resulting from other environmental issues and
resulting from other environmental issues and
from social issues, including health issues, is
from social issues, including health issues,
also growing. The increase in demand for
inclusion and gender equality (AMs 5, 54)is
sustainability information is also driven by the
also growing. The increase in demand for
growth in investment products that explicitly
sustainability information is also driven by the
seek to meet certain sustainability standards or
growth in investment products that explicitly
achieve certain sustainability objectives. Part of
seek to meet certain sustainability standards or
that increase is the logical consequence of
achieve certain sustainability objectives. Part of
previously adopted Union legislation, notably
that increase is the logical consequence of
Regulation (EU) 2019/2088 and Regulation
previously adopted Union legislation, notably
(EU) 2020/852. Some of the increase would
Regulation (EU) 2019/2088 and Regulation
have happened in any case, due to fast-changing
(EU) 2020/852. Some of the increase would
citizen awareness, consumer preferences and
have happened in any case, due to fast-changing
market practices. The COVID-19 pandemic will
citizen awareness, consumer preferences and
further accelerate the increase in users’
market practices. The COVID-19 pandemic will
information needs, in particular as it has
further accelerate the increase in users’
exposed the vulnerabilities of workers and of
information needs, in particular as it has
undertaking’s value chains. Information on
exposed the vulnerabilities of workers,
environmental impacts is also relevant in the
particularly women and people with
context of mitigating future pandemics with
disabilities (AMs 5, 53) and of undertaking’s
human disturbance of ecosystems increasingly
value chains. Information on environmental

linked to the occurrence and spread of diseases.
impacts is also relevant in the context of
mitigating future pandemics with human
disturbance of ecosystems increasingly linked
to the occurrence and spread of diseases.
Currently, limited amounts of gender
disaggregated data are being reported despite
the inclusion of gender-related indicators in
the GRI framework. (AM52)

COMPROMISE 6
Covered AMs 6 (Rapporteur), 56 (Kira Marie Peter-Hansen)
Recital 18
Text proposed by the Commission
Amendment
(18)
Considering the growing relevance of
(18)
Considering the growing relevance of
sustainability-related risks and taking into
sustainability-related risks and taking into
account that small and medium-sized
account that small and medium-sized
enterprises (SMEs) listed on regulated markets
enterprises (SMEs) listed on regulated markets
comprise a significant proportion of all listed
comprise a significant proportion of all listed
undertakings in the Union, in order to ensure
undertakings in the Union, in order to ensure
investor protection it is appropriate to require
investor protection it is appropriate to require
that also those SMEs disclose information on
that also those SMEs disclose information on
sustainability matters. The introduction of this
social, economic and environmental
requirement will help to ensure that financial
sustainability matters (AM 6). The reporting
market participants can include smaller listed
standards are not only necessary but also
undertakings in investment portfolios on the
useful and constitute an opportunity for
basis that they report the sustainability
companies to demonstrate their commitment to
information that financial market participants
the ecological, social and gender equal
need. It will therefore help to protect and
transition and therefore the establishment of
enhance the access of smaller listed
leading standards and thereby feed into their
undertakings to financial capital, and avoid
competitive advantage (AM 56)The
discrimination against such undertakings on the
introduction of this requirement will help to
part of financial market participants. The
ensure that financial market participants can
introduction of this requirement is also
include smaller listed undertakings in
necessary to ensure that financial market
investment portfolios on the basis that they
participants have the information they need
report the sustainability information that
from investee undertakings to be able to comply
financial market participants need. It will
with their own sustainability disclosure
therefore help to protect and enhance the access
requirements laid down in Regulation (EU)
of smaller listed undertakings to financial
2019/2088. SMEs listed on regulated markets
capital, and avoid discrimination against such
should, however, be provided with sufficient
undertakings on the part of financial market
time to prepare for the application of the
participants. The introduction of this
requirement to report sustainability information,
requirement is also necessary to ensure that
due to their smaller size and more limited
financial market participants have the
resources, and taking account of the difficult
information they need from investee
economic circumstances created by the
undertakings to be able to comply with their
COVID-19 pandemic. They should also be
own sustainability disclosure requirements laid

given the possibility to report according to
down in Regulation (EU) 2019/2088. SMEs
standards that are proportionate to the capacities
listed on regulated markets should, however, be
and resources of SMEs. Non-listed SMEs can
provided with sufficient time to prepare for the
also choose to use these proportionate standards
application of the requirement to report
on a voluntary basis. The SME standards will
sustainability information, due to their smaller
set a reference for undertakings that are within
size and more limited resources, and taking
the scope of the Directive regarding the level of
account of the difficult economic circumstances
sustainability information that they could
created by the COVID-19 pandemic. They
reasonably request from SME suppliers and
should also be given the possibility to report
clients in their value chains.
according to standards that are proportionate to
the capacities and resources of SMEs. Non-
listed SMEs can also choose to use these
proportionate standards on a voluntary basis.
The SME standards will set a reference for
undertakings that are within the scope of the
Directive regarding the level of sustainability
information that they could reasonably request
from SME suppliers and clients in their value
chains.
COMPROMISE 7
Covered AMs 7 (Rapporteur), 60 (Sylvie Brunet, Irène Tolleret, Samira Rafaela),
Recital 27
Text proposed by the Commission
Amendment
(27)
To ensure consistency with international
(27)
To ensure consistency with international
instruments such as the UN Guiding Principles
instruments such as the UN Guiding Principles
on Business and Human Rights and the OECD
on Business and Human Rights and the OECD
Due Diligence Guidance for Responsible
Due Diligence Guidance for Responsible
Business Conduct, the due diligence disclosure
Business Conduct, the due diligence disclosure
requirements should be specified in greater
requirements should be specified in greater
detail than is the case in Article 19a(1), point
detail than is the case in Article 19a(1), point
(b), and Article 29a(1), point (b) of Directive
(b), and Article 29a(1), point (b) of Directive
2013/34/EU. Due diligence is the process that
2013/34/EU. Due diligence is the process that
undertakings carry out to identify, prevent,
undertakings carry out to identify, prevent,
mitigate and remediate the principal actual and
mitigate and remediate the principal actual and
potential adverse impacts connected with their
potential adverse impacts connected with their
activities and identifies how they address those
activities and identifies how they address those
adverse impacts. Impacts connected with an
adverse impacts. Impacts connected with an
undertaking’s activities include impacts directly
undertaking’s activities include impacts directly
caused by the undertaking, impacts to which the
caused by the undertaking, impacts to which the
undertaking contributes, and impacts which are
undertaking contributes, and impacts which are
otherwise linked to the undertaking’s value
otherwise linked to the undertaking’s value
chain. The due diligence process concerns the
chain. The due diligence process concerns the
whole value chain of the undertaking including
whole value chain of the undertaking including
its own operations, its products and services, its
its own operations, its products and services, its
business relationships and its supply chains. In
business relationships and its supply chains. In
alignment with the UN Guiding Principles on
alignment with the UN Guiding Principles on

Business and Human Rights, an actual or
Business and Human Rights, an actual or
potential adverse impact is to be considered
potential adverse impact is to be considered
principal where it measures among the greatest
principal where it measures among the greatest
impacts connected with the undertaking’s
impacts connected with the undertaking’s
activities based on: the gravity of the impact on
activities based on: the gravity of the impact on
people or the environment; the number of
people or the environment; the number of
individuals that are or could be affected, or the
individuals that are or could be affected, or the
scale of damage to the environment; and the
scale of damage to the environment; and the
ease with which the harm could be remediated,
ease with which the harm could be remediated,
restoring the environment or affected people to
restoring the environment or affected people to
their prior state.
their prior state. Guidance to businesses on
respecting human rights should also advise on
appropriate methods, including human rights
due diligence, and consider effectively issues
of gender equality, ( AM 60) vulnerability and
marginalisation as well as recognising the
specific challenges that may be faced by
women with an intersectional perspective, in
particular LGBTI+ persons, racial, ethnic and
religious minorities, persons with disabilities,
and migrant workers (AM 7).

_________________
1a UN Guiding Principles on Business and
Human Rights, p.5.

COMPROMISE 8
Covered AMs 9 (Rapporteur), 62 (Sylvie Brunet, Irène Tolleret, Samira Rafaela)
Recital 32
Amendment
Text proposed by the Commission
(32)
Undertakings under the scope of
(32)
Undertakings under the scope of
Articles 19a(1) and 29a(1) of Directive
Articles 19a(1) and 29a(1) of Directive
2013/34/EU may rely on national, Union-based
2013/34/EU may rely on national, Union-based
or international reporting frameworks, and
or international reporting frameworks, and
where they do so, they have to specify which
where they do so, they have to specify which
frameworks they relied upon. However,
frameworks they relied upon. However,
Directive 2013/34/EU does not require
Directive 2013/34/EU does not require
undertakings to use a common reporting
undertakings to use a common reporting
framework or standard, and it does not prevent
framework or standard, and it does not prevent
undertakings from choosing not to use any
undertakings from choosing not to use any
reporting framework or standards at all. As
reporting framework or standards at all. As
required by Article 2 of Directive 2014/95/EU,
required by Article 2 of Directive 2014/95/EU,
the Commission published in 2017 non-binding
the Commission published in 2017 non-binding
guidelines for undertakings under the scope of
guidelines for undertakings under the scope of
that Directive52 . In 2019, the Commission
that Directive52. The guidelines on non-
published additional guidelines, specifically on
financial reporting cover social and employee

reporting climate-related information53 . The
matters with information companies are
climate reporting guidelines explicitly
expected to disclose such as diversity issues,
incorporated the recommendations of the Task
gender diversity and equal treatment in
Force on Climate-related Financial Disclosures.
employment and occupation (AM 62)respect
Available evidence indicates that those non-
for human rights, as well as environmental
binding guidelines did not have a significant
matters (AM 9).
impact on the quality of non-financial reporting
In 2019, the Commission published additional
by undertakings under the scope of Articles 19a
guidelines, specifically on reporting climate-
and 29a of Directive 2013/34/EU. The
related information53 . The climate reporting
voluntary nature of the guidelines means that
guidelines explicitly incorporated the
undertakings are free to apply them or not. The
recommendations of the Task Force on
guidelines can therefore not ensure on their own
Climate-related Financial Disclosures.
the comparability of information disclosed by
Available evidence indicates that those non-
different undertakings or the disclosure of all
binding guidelines did not have a significant
information that users consider relevant. That is
impact on the quality of non-financial reporting
why there is a need for mandatory common
by undertakings under the scope of Articles 19a
reporting standards to ensure that information is
and 29a of Directive 2013/34/EU. The
comparable and that all relevant information is
voluntary nature of the guidelines means that
disclosed. Building on the double-materiality
undertakings are free to apply them or not. The
principle, standards should cover all
guidelines can therefore not ensure on their own
information that is material to users. Common
the comparability of information disclosed by
reporting standards are also necessary to enable
different undertakings or the disclosure of all
the audit and digitalisation of sustainability
information that users consider relevant. That is
reporting and to facilitate its supervision and
why there is a need for mandatory common
enforcement. The development of mandatory
reporting standards to ensure that information is
common sustainability reporting standards is
comparable and that all relevant information is
necessary to progress to a situation in which
disclosed. Building on the double-materiality
sustainability information has a status
principle, standards should cover all
comparable to that of financial information.
information that is material to users. Common
reporting standards are also necessary to enable
the audit and digitalisation of sustainability
reporting and to facilitate its supervision and
enforcement. The development of mandatory
common sustainability reporting standards is
necessary to progress to a situation in which
sustainability information has a status
comparable to that of financial information.
_________________
_________________
52 Communication from the Commission
52 Communication from the Commission
Guidelines on non-financial reporting
Guidelines on non-financial reporting
(methodology for reporting non-financial
(methodology for reporting non-financial
information) (C/2017/4234).
information) (C/2017/4234).
53 Communication from the Commission
53 Communication from the Commission
Guidelines on non-financial reporting:
Guidelines on non-financial reporting:
Supplement on reporting climate-related
Supplement on reporting climate-related
information (C/2019/4490).
information (C/2019/4490).

COMPROMISE 9
Covered AM 65 (Kira Marie Peter-Hansen), 66 (Sylvie Brunet, Irène Tolleret, Samira
Rafaela)
Recital 34
Text proposed by the Commission
Amendment
(34)
The European Financial Reporting
(34)
The European Financial Reporting
Advisory Group (EFRAG) is a non-profit
Advisory Group (EFRAG) is a non-profit
association established under Belgian law that
association established under Belgian law that
serves the public interest by providing advice to
serves the public interest by providing advice to
the Commission on the endorsement of
the Commission on the endorsement of
international financial reporting standards.
international financial reporting standards.
EFRAG has established a reputation as a
EFRAG has established a reputation as a
European centre of expertise on corporate
European centre of expertise on corporate
reporting, and is well placed to foster
reporting, and is well placed to foster
coordination between European sustainability
coordination between European sustainability
reporting standards and international initiatives
reporting standards and international initiatives
that seek to develop standards that are
that seek to develop standards that are
consistent across the world. In March 2021, a
consistent across the world. In March 2021, a
multi-stakeholder task force set up by EFRAG
multi-stakeholder task force set up by EFRAG
published recommendations for the possible
published recommendations for the possible
development of sustainability reporting
development of sustainability reporting
standards for the European Union. Those
standards for the European Union. Those
recommendations contain proposals to develop
recommendations contain proposals to develop
a coherent and comprehensive set of reporting
a coherent and comprehensive set of reporting
standards, covering all sustainability matters
standards, covering all sustainability matters
from a double-materiality perspective. Those
from a double-materiality perspective. Those
recommendations also contain a detailed
recommendations also contain a detailed
roadmap for developing such standards, and
roadmap for developing such standards, and
proposals for mutually reinforcing cooperation
proposals for mutually reinforcing cooperation
between global standard-setting initiatives and
between global standard-setting initiatives and
standard-setting initiatives of the European
standard-setting initiatives of the European
Union. In March 2021, the EFRAG President
Union. In March 2021, the EFRAG President
published recommendations for possible
published recommendations for possible
governance changes to EFRAG if it were to be
governance changes to EFRAG if it were to be
asked to develop technical advice about
asked to develop technical advice about
sustainability reporting standards. These
sustainability reporting standards. These
recommendations include offsetting up within
recommendations include offsetting up within
EFRAG a new sustainability reporting pillar
EFRAG a new sustainability reporting pillar
while not significantly modifying the existing
while not significantly modifying the existing
financial reporting pillar. When adopting
financial reporting pillar. When adopting
sustainability reporting standards, the
sustainability reporting standards, the
Commission should take account of technical
Commission should take account of technical
advice that EFRAG will develop. In order to
advice that EFRAG will develop. In order to
ensure high-quality standards that contribute to
ensure high-quality standards that contribute to
the European public good and meet the needs of
the European public good and meet the needs of
undertakings and of users of the information
undertakings and of users of the information
reported, EFRAG’s technical advice should be
reported, EFRAG’s technical advice should be

developed with proper due process, public
developed with proper due process, public
oversight and transparency, accompanied by
oversight and transparency, accompanied by
cost benefit analyses, and be developed with the
cost benefit analyses, and be developed with the
expertise of relevant stakeholders. To ensure
expertise of relevant stakeholders. To ensure
that Union sustainability reporting standards
that Union sustainability reporting standards
take account of the views of the Member States
take account of the views of the Member States
of the Union, before adopting the standards the
of the Union, before adopting the standards the
Commission should consult the Member State
Commission should consult the Member State
Expert Group on Sustainable Finance referred
Expert Group on Sustainable Finance referred
to in Article 24 of Regulation (EU) 2020/852 on
to in Article 24 of Regulation (EU) 2020/852 on
EFRAG’s technical advice. The European
EFRAG’s technical advice. The European
Securities and Markets Authority (ESMA) plays
Securities and Markets Authority (ESMA) plays
a role in drafting regulatory technical standards
a role in drafting regulatory technical standards
pursuant to Regulation (EU) 2019/2088 and
pursuant to Regulation (EU) 2019/2088 and
there needs to be coherence between those
there needs to be coherence between those
regulatory technical standards and sustainability
regulatory technical standards and sustainability
reporting standards. According to Regulation
reporting standards. According to Regulation
(EU) No 1095/2010 of the European Parliament
(EU) No 1095/2010 of the European Parliament
and of the Council54 , ESMA also plays a role in
and of the Council54 , ESMA also plays a role in
promoting supervisory converge in the
promoting supervisory converge in the
enforcement of corporate reporting by issuers
enforcement of corporate reporting by issuers
whose securities are listed on EU regulated
whose securities are listed on EU regulated
markets and who will be required to use these
markets and who will be required to use these
sustainability reporting standards. Therefore,
sustainability reporting standards. Therefore,
ESMA should be required to provide an opinion
ESMA should be required to provide an opinion
on EFRAG’s technical advice. This opinion
on EFRAG’s technical advice. This opinion
should be provided within two months from the
should be provided within two months from the
date of receipt of the request from the
date of receipt of the request from the
Commission. In addition, the Commission
Commission. In addition, the Commission
should consult the European Banking
should consult the European Banking
Authority, the European Insurance and
Authority, the European Insurance and
Occupational Pensions Authority, the European
Occupational Pensions Authority, the European
Environment Agency, the European Union
Environment Agency, the European Union
Agency for Fundamental Rights, the European
Agency for Fundamental Rights, the European
Central Bank, the Committee of European
Foundation for the Improvement of Living
Auditing Oversight Bodies and the Platform on
and Working Conditions, the European
Sustainable Finance to ensure that the
Agency for Safety and Health at Work (AM
sustainability reporting standards are coherent
65)the European Institute for Gender
with relevant Union policy and legislation.
Equality, the European (AM 66) Central
Where any of those bodies decide to submit an
Bank, the Committee of European Auditing
opinion, they shall do so within two months
Oversight Bodies and the Platform on
from the date of being consulted by the
Sustainable Finance and, where applicable,
Commission.
relevant stakeholders including trade unions
and civil society organisations 
(AM 65) to
ensure that the sustainability reporting standards
are coherent with relevant Union policy and
legislation. Where any of those bodies decide to
submit an opinion, they shall do so within two
months from the date of being consulted by the
Commission.

COMPROMISE 10
Covered AM 11 (Rapporteur), 69 (Kira Marie Peter-Hansen), 70 (Sylvie Brunet, Irène
Tolleret, Samira Rafaela), 72 (Eugenia Rodríguez Palop)
Recital 43
Text proposed by the Commission
Amendment
(43)
Sustainability reporting standards
(43) Sustainability  reporting  standards  should
should specify the information that
specify the information that undertakings should
undertakings should disclose on social factors,
disclose  on  social  factors,  including  employee
including employee factors and human rights.
factors, labour rights and human rights with a
Such information should cover the impacts of
focus
on
gender  equality,  diversity  and
undertakings on people, including on human
inclusion.(AMs  69,  72) Such  information
health. The information that undertakings
should  cover  the  impacts  of  undertakings  on
disclose about human rights should include
people,  including  on  human  health.  The
information about forced labour in their value
information  that  undertakings  disclose  about
chains where relevant. Reporting standards that
human  rights  should  include  information about
address social factors should specify the
forced  labour  in  their  value  chains  where
information that undertakings should disclose
relevant. Reporting standards that address social
with regard to the principles of the European
factors  should  specify  the  information  that
Pillar of Social Rights that are relevant to
undertakings should disclose with regard to the
businesses, including equal opportunities for all
20  principles of  the  European  Pillar  of  Social
and working conditions. The European Pillar of
Rights  that  are  relevant  to  businesses,
Social Rights Action Plan adopted in March
particularly
equal 
opportunities 
for 
all,
2021 calls for stronger requirements on
including gender  equality,  work  life  balance
undertakings to report on social issues. The
(AM 69) and fair working conditions (AM 70).
reporting standards should also specify the
The European Pillar of Social Rights Action Plan
information that undertakings should disclose
adopted  in  March  2021  calls  for  stronger
with regard to the human rights, fundamental
requirements on undertakings to report on social
freedoms, democratic principles and standards
issues. Environmental and social responsibility
established in the International Bill of Human
disclosures  are  complimentary  (70)  to  one
Rights and other core UN human rights
another.  However, companies  that  increase
conventions, the International Labour
environmental  disclosures  do  not  necessarily
Organization’s Declaration on Fundamental
increase  social  disclosures.  Despite  this
Principles and Rights at Work, the fundamental
difference  in  disclosure  practice,  the  capital
conventions of the International Labour
market generally appears to value higher social
Organisation, and the Charter of Fundamental
disclosures (AM  11)2. The  same  level  of
Rights of the European Union.
ambition  must  be  given  to  the  reporting  on
environmental  and  social  sustainability 
(AM
70
). The  information  undertakings  disclose
about  gender  equality  should  include  a  list  of
current 

actions 
that 
promote 
equal
opportunities, diversity, work life balance, anti-
2 German  Federal Ministry  and  Social  Affairs – “What  is  CSR?  Benefits  for  companies”, https://www.csr-in-
deutschland.de/EN/What-is-CSR/Benefits-for-Companies/benefits-for-companies-article.html

harassment  measures  in  the  workplace  and
ensure  equal  pay  between  genders for  equal
work,  the  pay  reporting  requirements  as  to  be
established by the Pay Transparency Directive.
The reporting standards should also specify the
information  that  undertakings  should  disclose
with  regard  to  the  human  rights,  fundamental
freedoms,  democratic  principles  and  standards
established  in  the  International  Bill  of  Human
Rights  and  other  core  UN  human  rights
conventions, including  CEDAW  Convention,
the  UN  Convention  on  the  Rights  of  Persons
with  Disabilities,  the  UN  Declaration  on  the
Rights of Indigenous Peoples
the International
Labour 
Organization’s 
Declaration 
on
Fundamental Principles and Rights at Work, the
fundamental  conventions  of  the  International
Labour 
Organisation,
The 
European
Convention  of  Human  rights,  The  European
Social 

Charter 
and 
the 
Charter 
of
Fundamental Rights of The European Union.
(AMs 11, 70, 72)
COMPROMISE 11
Covered AMs 13 (Rapporteur), 73 (Andżelika Anna Możdżanowska,), 74 (Kira Marie Peter
Hansen), 75 ( Sylvie Brunet, Irène Tolleret, Samira Rafaela)
Proposal for a directive
Recital 44
Text proposed by the Commission
Amendment
(44)
Users need information about
(44)
Users need information about
governance factors, including information on
governance factors, including information on
the role of an undertaking’s administrative,
the role of an undertaking’s administrative,
management and supervisory bodies, including
management and supervisory bodies, including
with regard to sustainability matters, the
with regard to sustainability matters, the
composition of such bodies, and an
composition of such bodies, broken down by
undertaking’s internal control and risk
gender ( AM 75) , particularly with regard to
management systems, including in relation to
workers' and women's participation, age,
the reporting process. Users also need
ethnic/racial backgrounds and other diversity
information about undertakings’ corporate
and intersectional aspects,(AM74) and an
culture and approach to business ethics,
undertaking’s internal control and risk
including anti-corruption and anti-bribery, and
management systems, including in relation to
about their political engagements, including
the reporting process. Users also need
lobbying activities. Information about the
information about undertakings’ corporate
management of the undertaking and the quality
cultureincluding equal treatment and equal

of relationships with business partners,
opportunities, inclusion and diversity
including payment practices relating to the date
measures, provisions preventing mobbing,
or period for payment, the rate of interest for
sexual harassment and reducing violence
late payment or the compensation for recovery
against women,(AMs 13, 73) as well as about
costs referred to in Directive 2011/7/EU of the
their approach to business ethics, including
European Parliament and of the Council62 on
anti-corruption and anti-bribery, anti-
late payment in commercial transactions, helps
discrimination and anti-harassment (AM 75)
users to understand an undertaking’s risks as
and about their political engagements, including
well as its impacts on sustainability matters.
lobbying activities. Information about the
Every year, thousands of businesses, especially
management of the undertaking and the quality
SMEs, suffer administrative and financial
of relationships with business partners,
burdens because they are paid late, or not at all.
including payment practices relating to the date
Ultimately, late payments lead to insolvency
or period for payment, the rate of interest for
and bankruptcy, with destructive effects on
late payment or the compensation for recovery
entire value chains. Increasing information
costs referred to in Directive 2011/7/EU of the
about payment practices should empower other
European Parliament and of the Council62 on
undertakings to identify prompt and reliable
late payment in commercial transactions, helps
payers, detect unfair payment practices, access
users to understand an undertaking’s risks as
information about the businesses they trade
well as its impacts on sustainability matters.
with, and negotiate fairer payment terms.
Every year, thousands of businesses, especially
SMEs, suffer administrative and financial
burdens because they are paid late, or not at all.
Ultimately, late payments lead to insolvency
and bankruptcy, with destructive effects on
entire value chains. Increasing information
about payment practices should empower other
undertakings to identify prompt and reliable
payers, detect unfair payment practices, access
information about the businesses they trade
with, and negotiate fairer payment terms.
__________________
__________________
62 Directive 2011/7/EU of the European
62 Directive 2011/7/EU of the European
Parliament and of the Council of 16 February
Parliament and of the Council of 16 February
2011 on combating late payment in commercial
2011 on combating late payment in commercial
transactions (OJ L 48, 23.2.2011, p. 1).
transactions (OJ L 48, 23.2.2011, p. 1).
COMPROMISE 12
Covered AMs 14 (Rapporteur), 80 (Sylvie Brunet, Irène Tolleret, Samira Rafaela), 81 (Kira
Marie Peter-Hansen)
Proposal for a directive
Recital 51
Text proposed by the Commission
Amendment
(51)
Article 20 of Directive 2013/34/EU
(51)
Article 20 of Directive 2013/34/EU
requires undertakings with securities listed on
requires undertakings with securities listed on
regulated markets to include a corporate
regulated markets to include a corporate
governance statement in their management
governance statement in their management

report, which has to contain among other
report, which has to contain among other
information a description of the diversity policy
information a description of the diversity policy
applied by the undertaking in relation to its
applied by the undertaking in relation to its
administrative, management and supervisory
administrative, management and supervisory
bodies. Article 20 of Directive 2013/34/EU
bodies with regard to aspects such as, for
leaves flexibility to undertakings to decide what
instance, age, gender, or educational and
aspects of diversity they report on. It does not
professional backgrounds, the objectives of
explicitly oblige undertakings to include
that diversity policy, how it has been
information on any particular aspect of
implemented and the results in the reporting
diversity. In order progress towards a more
period.( AMs 14, 80) Article 20 of Directive
gender-balanced participation in economic
2013/34/EU leaves flexibility to undertakings to
decision-making, it is necessary to ensure that
decide what aspects of diversity they report on.
undertakings with securities listed on regulated
It does not explicitly oblige undertakings to
markets always report on their gender diversity
include information on any particular aspect of
policies and the implementation thereof.
diversity. In order to progress towards a more
However, to avoid unnecessary administrative
gender-balanced participation in economic
burden, those undertakings should have the
decision-making, it is necessary to ensure that
possibility to report some of the information
undertakings with securities listed on regulated
required by Article 20 of Directive 2013/34/EU
markets always report on their gender diversity
alongside other sustainability-related
and gender equality (AM 80) policies and the
information.
implementation thereof, in particular, with the
aim to achieve gender-balanced representation
in company boards compliance with the
requirements of still to be established Pay
Transparency Directive, fighting against
harassment in the workplace and promoting
work life balance.( AM 81) 
However, to avoid
unnecessary administrative burden, those
undertakings should have the possibility to
report some of the information required by
Article 20 of Directive 2013/34/EU alongside
other sustainability-related information.
COMPROMISE 13
Covered AMs 16 (Rapporteur), 17 (Rapporteur), 84 (Eugenia Rodríguez Palop), 88 (Kira
Marie Peter-Hansen)

Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU

Article 19a – paragraph 2 – subparagraph 1 – point a – point iii b (new)
Text proposed by the Commission
Amendment
(iiib) the  plans  of  the  undertaking to  promote
gender  equality  and
ensure  that  gender

mainstreaming,  and  diversity  and  inclusion
policies 

are 
implemented, 
particularly
regarding pay gap and pay transparency, with
requirements  to  be  established  by  the  Pay
Transparency  Directive,  as  well  as  gender-
balanced participation in decision-making and
work-life balance ( AMS 17, 84, 88).

COMPROMISE 14
AMs 20 (Rapporteur), 22 (Rapporteur), 102, 108 (Kira Marie Peter-Hansen) 103 (Sylvie
Brunet, Irène Tolleret, Samira Rafaela), 104 (Eugenia Rodríguez Palop), 105 (Sirpa
Pietikäinen)
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU

Article 19b – paragraph 2 – subparagraph 2 – point b – point i
Text proposed by the Commission
Amendment
(i)
equal opportunities for all, including
(i)
workforce diversity,(AM 104equal
gender equality and equal pay for equal work,
treatment and (AMs 103, 104opportunities
training and skills development, and
for all, including gender equality, the
employment and inclusion of people with
application of the principle of equal pay for
disabilities;
equal work or work of equal value, including
the reporting and obligations as to be
established in the Pay transparency
Directive
,(AM 104, 108
)
(new) training and skills development, in
particular the rate of workers participating in
training
disaggregated by gender (AM 103) 
and
employment and inclusion of people with
disabilities,
(new) gender equality and diversity
composition in management positions and
measures against harassment in the
workplace
following, among others, the
equality principles and standards established
in the Beijing Declaration and Istanbul
Convention. (AMs 102, 105)


COMPROMISE 15
Covered AMs 23 (Rapporteur), 110 (Eugenia Rodríguez Palop), 114 (Sylvie Brunet, Irène
Tolleret, Samira Rafaela), 115 (Kira Marie Peter-Hansen)
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – subparagraph 2 – point b – point ii
Text proposed by the Commission
Amendment
(ii)
working conditions, including secure
(ii)
working conditions, including secure
and adaptable employment, wages, social
and adaptable employment, social dialogue,
dialogue, collective bargaining and the
collective bargaining and the involvement of
involvement of workers, work-life balance, and
workers, work-life balance, including flexible
a healthy, safe and well-adapted work
adaptable working-time, parental leave
environment;
paternity, maternity, including take up and
return rates ( AMs 23,110, 114, 113, 115), the
possibility of teleworking (114) 
and a healthy,
safe and well-adapted work environment, free
from all forms of violence, among others
gender-based violence, harassment, including
psychological and sexual harassment,  from
an inclusive, integrated and gender-responsive
approach (AMs 23, 110, 113, 114).

COMPROMISE 16
Covered AMs 24 (Rapporteur), 116 (Kira Marie Peter-Hansen)
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – subparagraph 2 – point b – point iii
Text proposed by the Commission
Amendment
(iii)
respect for the human rights,
(iii)
respect for the human rights,
fundamental freedoms, democratic principles
fundamental freedoms, democratic principles
and standards established in the International
and standards established in the International
Bill of Human Rights and other core UN human
Bill of Human Rights and other core UN human
rights conventions, the International Labour
rights conventions, such as the CEDAW
Organization’s Declaration on Fundamental
Convention, UN Convention on Persons with

Principles and Rights at Work and the ILO
Disabilities, the UN Declaration on the Rights
fundamental conventions and the Charter of
of Indigenous Peoples (AM 116),the
Fundamental Rights of the European Union.
International Labour Organization’s,
Declaration on Fundamental Principles and
Rights at Work and the ILO fundamental
conventions and the European Convention of
Human Rights, the European Social Charter
(AM 24) and the Charter of Fundamental Rights
of the European Union.
COMPROMISE 17
Covered AMs 25 (Rapporteur), 118 (Kira Marie Peter-Hansen), 119 (Pernille Weiss, Frances
Fitzgerald, Christine Schneider, 120 (Sylvie Brunet, Irène Tolleret, Samira Rafaela)
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – subparagraph 2 – point c – point i
Text proposed by the Commission
Amendment
(i)
the role of the undertaking’s
(i)
the role of the undertaking’s
administrative, management and supervisory
administrative, management and supervisory
bodies, including with regard to sustainability
bodies, including with regard to sustainability
matters, and their composition;
matters, and their composition, broken down by
gender (AM120,119) including with regards to
the intersectional representation of women in
leadership and managerial positions. (AMS
25, 118)
;
COMPROMISE 18
Covered AMs 28 (Rapporteur) 127 (Kira Marie Peter-Hansen), 128 (Eugenia Rodríguez
Palop, 129 (Andżelika Anna Możdżanowska), 130 (Sylvie Brunet, Irène Tolleret, Samira
Rafaela)
Proposal for a directive
Article 1 – paragraph 1 – point 5 – point a
Directive 2013/34/EU
Article 20 – paragraph 1 – point g

Text proposed by the Commission
Amendment
(g)
a description of the diversity policy
(g) a description of the diversity, gender
applied in relation to the undertaking's
equality and inclusion policies, (AM 28, 128,
administrative, management and supervisory
129, 130) applied in relation to the
bodies with regard to gender and other aspects
undertaking's administrative, management and
such as, age, or educational and professional
supervisory bodies with regard to gender
backgrounds, the objectives of that diversity
equality, anti-discrimination, support for
policy, how it has been implemented and the
minority and vulnerable groups, and other
results in the reporting period. If no such policy
aspects such as, age, disability (AM 128) or
is applied, the statement shall contain an
educational and professional backgrounds , as
explanation as to why this is the case.;
well other intersectional characteristics and
discriminations protected under Directives
2000/43/EC and 2000/78/EC
, the objectives
and indicators (127) of that diversity policy,
how it has been implemented and the results in
the reporting period. If no such policy is
applied, the statement shall contain an
explanation as to why this is the case.
COMPROMISE 19
Covered AMs 29 (Rapporteur), 131(Andżelika Anna Możdżanowska)
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 1
Text proposed by the Commission
Amendment
1.
Parent undertakings of a large group
1.
Parent undertakings of a large group
shall include in the consolidated management
shall include in the consolidated management
report information necessary to understand the
report information necessary to understand the
group's impacts on sustainability matters, and
group's impacts on social, economic and
information necessary to understand how
environmental (AMs 29, 131) sustainability
sustainability matters affect the group's
matters, and information necessary to
development, performance and position.
understand how sustainability matters affect the
group's development, performance and position,
COMPROMISE 20
Covered AMs 30, 31 (Rapporteur), 132 (Eugenia Rodríguez Palop) 134 (Sylvie Brunet, Irène
Tolleret, Samira Rafaela)

Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – subparagraph 1 – point a – point iii a (new)
Text proposed by the Commission
Amendment
(iiia)
the plans of the undertaking to promote
that anti-discrimination, diversity and gender
equality measures (AMs 30,31) are
implemented, particularly regarding pay gap
and pay transparency in line with
requirements to be established in the Pay
Transparency Directive, gender-equal
participation in decision-making and work-life
balance (AMs 132, 134).

COMPROMISE 21
Covered AMs 32 (Rapporteur), 136 (Andżelika Anna Możdżanowska)
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – subparagraph 1 – point e – point i
Text proposed by the Commission
Amendment
(i)
the due diligence process implemented
(i)
the due diligence process implemented
with regard to sustainability matters;
with regard to sustainability and gender
equality matters (AMs 32, 136).

COMPROMISE 22
Covered ASMs 33 (Rapporteur), 138 (Kira Marie Peter-Hansen)
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – subparagraph 1 – point e – point ii
Text proposed by the Commission
Amendment
(ii)
the principal actual or potential adverse
(ii)
the principal actual or potential adverse

impacts connected with the group’s value chain,
impacts connected with the group’s value chain,
including its own operations, its products and
including its own operations, its products and
services, its business relationships and its
services, its business relationships and its
supply chain;
supply chain and gender equality procurement
policies 
(AM 33), with particular attention to
persons who frequently face intersectional and
diverse discriminations or are in a vulnerable
situation, such as women, children minorities,
LGBTIQ persons, persons with disabilities,
from ethnic/racial backgrounds or persons
experiencing poverty, or social exclusion. (AM
138)

COMPROMISE 23
Covered ASMs 143 (Kira Marie Peter-Hansen) 144 (Sylvie Brunet, Irène Tolleret, Samira
Rafaela), 145 (Eugenia Rodríguez Palop)
Proposal for a directive
Article 2 – paragraph 1 – point 4
Directive 2004/109/EC
Article 28d – paragraph 1
Text proposed by the Commission
Amendment
After consulting the European Environment
After consulting the European Environment
Agency and the European Union Agency for
Agencythe European Union Agency for
Fundamental Rights, ESMA shall issue
Fundamental Rights, the European Agency for
guidelines in accordance with Article 16 of
Safety and Health at Work (AM 143) and the
Regulation 1095/2010 on the supervision of
European Institute for Gender Equality, (AMS
sustainability reporting by national competent
143 144, 145), and where applicable, relevant
authorities.
stakeholders, including trade unions and civil
society organisations 
(143) ESMA shall issue
guidelines in accordance with Article 16 of
Regulation 1095/2010 on the supervision of
sustainability reporting by national competent
authorities.