GPW, EBRD Update ESG Reporting Guidelines
The rapid acceleration towards sustainable investing in the last two years has been a defining trend.
This shift has been primarily propelled by a heightened investor consciousness regarding the advantages of incorporating Environmental, Social, and Governance (ESG) factors into their corporate strategies.
Furthermore, regulatory pressures on both asset managers and corporations have mounted, compelling them to divulge climate and sustainability-related data to ensure the credibility and transparency of their sustainable finance reporting.
As a consequence of this transformative experience, the Warsaw Stock Exchange (GPW) and the European Bank for Reconstruction and Development (EBRD) have undertaken a significant update to the 2021 ESG Reporting Guidelines for Companies Listed on GPW.
This updated publication aims to equip issuers with practical resources that cater to specific ESG disclosure requirements of investors.
It's particularly designed to assist companies in Poland in preparation for the forthcoming reporting of European Sustainability Reporting Standards (ESRS) indicators mandated under the Corporate Sustainability Reporting Directive (CSRD).
The guidelines offer recommendations for a comprehensive set of vital ESG indicators that are eagerly anticipated by global stock market investors. The document's chapters delve into ESG definitions, the evolving regulatory landscape, the approach to reporting, and the stages involved in crafting a sustainability report.
Additionally, an appendix provides an exhaustive list of indicators that investors anticipate. Therefore, these Guidelines serve as an invaluable tool for both issuers and investors as they adapt to the new dynamics of sustainable finance.
Izabela Olszewska, a GPW Management Board Member, expressed her gratitude to the various entities involved in developing these updated Guidelines, emphasising the importance of their contributions to enhancing the quality of ESG reporting. She also extended her appreciation to EBRD and Steward Redqueen for their collaborative efforts, underscoring the valuable resource these Guidelines represent for both reporting companies and users.
Elisabetta Falcetti, EBRD Regional Director for Poland and the Baltic States, affirmed the institution's dedication to supporting Poland's transition to a low-carbon, climate-resilient economy in alignment with the EU's sustainable finance objectives.
She acknowledged that the Guidelines, now in their second iteration, are a response to emerging requirements and the mounting demand from investors for consistent and comparable ESG data.
These Guidelines, she emphasised, are framed around the key principles of sustainable financing in the European Union and best practices. Their ultimate aim is to facilitate the shift toward a climate-neutral, environmentally friendly, competitive, and inclusive economy while positioning GPW as a regional leader in sustainable development.
Magdalena Krzysztofik, Head of CEE at Steward Redqueen, credited the extensive effort behind the revised ESG Reporting Guidelines. Their objective was to build upon EU regulations and globally recognised sustainability reporting frameworks and standards.
Notably, the Guidelines have given prominence to the CSRD and the associated ESRS to assist Polish companies with their initial implementation. She expressed gratitude to GPW and EBRD for their collaboration in entrusting Steward Redqueen with the preparation of this critical document.
In light of the escalating significance of non-financial reporting, GPW is set to offer a range of outreach activities for issuers, including workshops. To gain further insights, you can peruse the ESG Reporting Guidelines, Guide for Companies Listed on GPW.