On 31 July 2023 the European Commission (EC) announced its adoption of the Delegated Act (DA) on the first set of European Sustainability Reporting Standards (ESRS) (press announcement, Q&As webpage and implementing and delegated acts – CSRD webpage) Simultaneously the Commission together with EFRAG and the International Sustainability Standards Board (ISSB)
The European Council announced that it has adopted a law aimed at protecting consumers from misleading green claims and other greenwashing practices, including banning unverified generic environmental claims such as “environmentally friendly,” or “biodegradable” and those based on emissions offsetting schemes, marking the last major step to the passage of the new legislation.Key aspects of the new directive include rules aimed at making product labels clearer by banning the use of generic environmental claims not backed up with proof, and the regulation of sustainability labels to allow only the use of those based on official certification schemes or established by public authorities. ...