As a thought for the weekend. 50,000 companies in the EU will have to report environmental impact data to investors and customers.

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As a thought for the weekend. 50,000 companies in the EU will have to report environmental impact data to investors and customers. Starting with 11,000 in 2024 and expanding to small and medium sized businesses in 2025 and 2026.

Eelco van der Enden, chief executive of GRI, said that Wednesday’s vote “signals the transition from political debate to practical implementation for these new rules — which are a game-changer for corporate accountability, in the EU and globally”.

From October 2024 EU NIS 2 and DORA cybersecurity regulations will be transposed by EU member states. That require covered Critical National Infrastructure (CNI) providers and Financial Institutions (FI) demonstrate their compliance to cybersecurity risk management (https://lnkd.in/eSRjtc7E), with the risk of civil and criminal penalties.

One suspects that cyber regulatory compliance is going to be equally or more difficult for companies to comply with that providing ESG related data. Rough estimates put the number of companies in scope for cyber risk management at +50,000 also.

Ted Dziekanowski Brian D. McCarthy Bob Dix Rachel V. Rose, JD, MBA Olaf Classen

#theagustagroup #cybersecurity #cyberriskmanagement #eunis2 #dora

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