Esma: clima e contesto macroeconomico – Temi prioritari nelle rendicontazioni 2023 delle società quotate (27 ottobre 2023)

ESMA has set supervisory priorities for 2023, focusing on financial and sustainability reporting, alternative performance indicators, and digital reporting, especially in relation to climate and environmental matters, and the macroeconomic context by publishing its 2023 ECEP Statement.
ESMA also released a report on climate disclosures in 2022 financial statements and a study to improve market disclosure.
These priorities will be considered by Consob for monitoring and supervising financial reports and non-financial statements in 2023.
For financial statements prepared under IAS/IFRS, the priorities include addressing climate-related aspects, emissions trading, renewable energy certificates, and impairment testing. Special attention is given to green financial instruments and credit loss provisions. The impact of the current economic context on refinancing risks and fair value determination is also highlighted.
In non-financial statements, the focus is on complying with Article 8 of the Taxonomy Regulation, including using delegated act models without modification and providing qualitative information. This aims to offer a clear understanding of assessments, assumptions, and methodology choices. Specific emphasis is placed on CapEx indicators and their inclusion in transition plans. The importance of disclosing climate-related goals, actions, and progress is stressed, along with transparency on methodology and Scope 3 emissions.
Special considerations apply to financial intermediaries regarding „green“ financial instruments and credit loss provisions.
ESMA emphasizes adherence to guidelines for APMs and proper use of the ESEF for consolidated financial statements and notes.
Their report provides practical examples of how to present climate-related matters in IFRS financial statements, drawn from 2022 financial reports of European issuers.
ESMA underscores the importance of providing all required quantitative and qualitative data for a comprehensive understanding of business alignment with regulations.