AMF highlights ESG reporting challenges

French regulatory authority, the Autorité des Marchés Financiers (AMF), has highlighted the challenges facing ESG reporting for companies.

In a new report on the ESG responsibility of listed companies, the AMF has conducted an analysis of the first non-financial statements of 24 French listed companies and set out the key challenges of this non-financial reporting.

For the fourth edition of its report on the social, societal and environmental responsibility of listed companies, the AMF has set itself the objective of supporting companies in preparing their future non-financial statements. This year, for the first time, companies were obliged to include such a statement of non-financial performance with their management report. The AMF has reviewed the information provided by a sample of 19 companies from the CAC 40 index and five companies from the SBF 120 index in the section dedicated to this statement in their registration document.

To analyse the non-financial information available from several European issuers from the same sector and to observe to what extent practices converge, a chapter in the report is dedicated to an international comparison of the oil & gas industry. The nine findings of this study provide areas to be explored for the future of non-financial reporting, such as the need to promote greater harmonisation at the European level of methodologies underlying non-financial performance indicators.