Aligning with global reporting standards

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.