| Abstract [eng] |
This master thesis provides analysis of the topic of sustainability disclosure by examining legal acts of European Union and doctrine. The master thesis highlights the objectives and reasons of sustainability disclosure and relevance for stakeholders and companies, taking into account the different interests and purposes of the subjects and moral and economic legal theories. In the context of the current proposed changes to the legal regulation of sustainability disclosure at European Union scope, the proposal for a Corporate Sustainability Reporting Directive is analysed. The new regulation of sustainability disclosure is relevant for Member States, companies and stakeholders, including shareholders and other investors. This master thesis analyses the legal regulation of Corporate Sustainability Reporting Directive, which is revealed through four main elements: the entities that would be subject to the new regulation, the regulatory method, the sustainability disclosure standards and the assurance of sustainability information. In order to better illustrate the changes in the legal framework for sustainability disclosure, the Corporate Sustainability Reporting Directive is compared with the Non-Financial Information Reporting Directive. Legal theories of company law are also used to illustrate the relevance of the legal regulation of sustainability disclosure in company law. Finally, the master thesis analyses the main issues of sustainability disclosure which are relevant for companies' sustainability reporting as well as for Member States' regulatory frameworks at national level. Three main concerns can be identified: the ambiguity of the principle of double materiality, the nature of the sanctions for non-disclosure or inadequate disclosure of sustainability information, and the dynamic nature of sustainability disclosure. |
