AmCham EU

Aligning with global reporting standards

10 May 2023

All Committees

American businesses support the objectives of sustainability reporting in line with the EU´s ambitious climate targets. However, the anticipated complexity of the draft European Sustainability Standards (ESRS) under the Corporate Sustainability Reporting Directive presents a challenge. Businesses need a reduction in reporting requirements and further alignment with global baselines, which would facilitate the successful implementation of the ESRS in practice. Our letter to Mairead McGuinness, European Commissioner for Financial Stability, Financial Services and the Capital Markets Union, presents both context about this issue and proposals for streamlining the sustainability reporting.

Proving digital and financial resilience through clarity

8 May 2023

All Committees

Financial Services

The Digital Operational Resilience Act (DORA) is crucial to ensuring digital operational resilience and Information and Communications Technology (ICT) security in the financial sector. However, for industry to successfully implement the new rules, several concerns should be addressed. Businesses need further clarity on the level of aggregation within a Group, designation of ICT third-party service providers, incident reporting and consistency with other EU legislations. Read how the three European Supervisory Authorities (ESAs) can ensure legal certainty and help industry to prepare for the new rules.

How the transatlantic relationship thrived in 2022

3 May 2023

All Committees

Transatlantic

2022 was a tumultuous year: the war in Ukraine, supply chain disruptions and energy concerns are just some of the issues that underlined the year and stressed the transatlantic relationship. Luckily, close cooperation and a shared purpose allowed both sides of the Atlantic to thrive where otherwise they couldn’t. Read how by building closer ties, both parties came out stronger and continued to grow throughout 2022 in the latest article on Thriving Together.