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Commission Notice on the interpretation of certain legal provisions in Directive 2013/34/EU (Accounting Directive), Directive 2006/43/EC (Audit Directive), Regulation (EU) No 537/2014 (Audit Regulation), Directive 2004/109/EC (Transparency Directive), Delegated Regulation (EU) 2023/2772 (first set of European Sustainability Reporting Standards, ‘first ESRS delegated act’), and Regulation (EU) 2019/2088 (Sustainable Finance Disclosures Regulation, ‘SFDR’) as regards sustainability reporting · European Union

Based on Article 4(5) of the Transparency Directive, which cross-refers to Articles 19a and 29a of the Accounting Directive, issuers of transferable securities admitted to trading on an EU regulated market (49) (regardless of whether they are governed by the law of a Member State or by the law of a third country), excluding micro-undertakings, must include in their annual financial reports a management report that includes sustainability information at individual level (sustainability statement) or – for parent undertakings of large groups – at consolidated level (consolidated sustainability statement) in compliance with the same requirements specified under paragraph 1.1 above, points (i) to (v). The publication rules are those established for the annual financial report under Article 4 of the Transparency Directive (50).

← 1.3. Sustainability information to be reported at individual level (sustainability statement) or – for parent undertakings of large groups – at consolidated level (consolidated sustainability statement) under Article 4(5) of the Transparency Directive by issuers of transferable securities admitted to trading on an EU regulated market) · All articles · sec_1_3__para__2 →

Source: EUR-Lex (Cellar) · retrieved 2026-09-07 · Text as adopted (Official Journal); later amendments are not incorporated in this text.