The importance of ESG criteria in companies is growing and serves not only to comply with the standard, but also to demonstrate commitment to social responsibility, to enhance the reputation of companies and to retain talent.
Esther Pérez, director in the commercial area, explains in his article for Economist&Jurist (for Economist&Jurist subscribers only) the recent regulations that promote it: "At the European level, sustainable corporate governance has been promoted mostly indirectly through the imposition of the reporting requirements set out in the Corporate Sustainability Reporting Directive (CSRD)".
Our commercial lawyer comments that these criteria apply to "all large companies, listed and unlisted. Non-EU companies with substantial activity in the EU (with a turnover of more than EUR 150 million in the EU) will also have to comply with them, as will listed SMEs".
ESG criteria in companies are focused on complying with sustainability, social and labor issues, and good corporate governance practices.