What conclusions can be drawn from the analysis of the sustainability reports of listed companies?

This report from the Financial Markets Authority takes stock of the Extra-Financial Performance Declarations of listed companies (DPEF) and helps companies, using examples and reminders on regulations, to assess their state of sustainability with the CSRD and European Sustainability Reporting Standards (“ESRS”).

The results of the supervision exercise Extra-Financial Performance Declarations of listed companies (DPEF), led by the AMF, aims to communicate the most recurring or important points of attention which are relevant in the perspective of the new directive on corporate sustainability reporting, the “CSRD”.

Ce educational report is illustrated with examples and reminders on the regulations to support companies for this first year of preparation for assess the state of sustainability with the CSRD and its European Sustainability Reporting Standards (“ESRS”).

Each year, the AMF ensures compliance with the sustainability information publication obligations of listed companies (verification of the existence of the publication and, on a selection of companies, in-depth review of the content). The AMF continues these supervisory missions in the context of the CSRD.

The AMF reviews of the DPEFs published in 2023 and 2024 studied in this report highlight the need for companies to progress in terms of sustainability reporting from the perspective of the CSRD.

The large number ofillustrations and good practices presented in this report also demonstrate a gradual appropriation by companies of certain requirements of the ESRS standards. These examples can help companies in their implementation of CSRD.

Recognizing the learning curve necessary for all stakeholders in the
first years of implementation of the CSRD, the AMF invites large companies to concentrate their efforts for the first financial year on double materiality analysison the structure and scope of the state of sustainability and on taxonomy reportingin line with ESMA’s European supervisory priorities in 2024.

The AMF invites the European Commission, EFRAG and ESMA to continue to work – in consultation with stakeholders – to provide the necessary answers to the numerous questions of interpretation and application of the regulations in order to guide companies in preparing their sustainability report.