GPW and EBRD Publish Updated ESG Reporting Guidelines

PRESS RELEASE

• GPW and the European Bank for Reconstruction and Development have published an update of the ESG Reporting Guidelines. Guide for Companies Listed on GPW
• The Guidelines are designed to support issuers in non-financial reporting to address investor expectations

The shift to sustainable investing has accelerated sharply over the past two years. It has been driven by growing investor awareness of the benefits of integrating ESG factors into business strategies combined with regulatory pressure on asset managers and companies to disclose climate and sustainability-related information so as to ensure reliable sustainable finance reporting. The experience has prompted the Warsaw Stock Exchange and the European Bank for Reconstruction and Development to update the 2021 ESG Reporting Guidelines. Guide for Companies Listed on GPW.

Once again, this publication can provide practical tools to support issuers in ESG disclosures depending on the needs of the investors. In particular, it can address the requirements of the CSRD, which will soon cover nearly four thousand entities in Poland, in the preparation for the reporting of ESRS (European Sustainability Reporting Standards) indicators. The Guidelines provide recommendations for a list of key ESG indicators expected by global stock market investors. The document’s chapters cover ESG definitions, the regulatory environment, the approach to reporting, and the stages of drafting a sustainability report. The appendix provides a list of indicators expected by the investors. As such, the Guidelines can be a useful tool for issuers and investors in the adaptation to new challenges in sustainable finance.

“Many entities active on the capital market, which see the need to improve the quality of ESG reporting, were involved in the process of developing the Guidelines update. We are grateful to them for sharing their knowledge and experience. I would like to thank EBRD and Steward Redqueen for their partnership which has enabled this set of complementary information that can be a useful resource for both reporting companies and report users,” said Izabela Olszewska, GPW Management Board Member.

“The EBRD is committed to supporting Poland in its transition to a low-carbon and climate-resilient economy, in line with the EU sustainable finance agenda. In recent years, more than two-thirds of our investments in Poland were green. For the second time, as part of our engagement, we are pleased to support GPW as our partner in publishing the ESG Reporting Guidelines. The update addresses new requirements and increasing investor demand for consistent and comparable ESG data of companies. It takes into account the key principles of sustainable financing in the European Union and best practice. The goal of the Guidelines is to support the transition to a climate-neutral, green, competitive and inclusive economy and to position GPW as a regional leader in sustainable development. We plan to continue supporting the capital markets and our clients in sustainability reporting,” said Elisabetta Falcetti, EBRD Regional Director for Poland and the Baltic States. 

“The new version of the ESG Reporting Guidelines is a result of several months of work which led to significant parts of the original text being updated and expanded. Our goal was to build on the EU regulations and internationally recognized sustainability reporting frameworks and standards. Notably, we made the CSRD and supplementing it ESRS front and centre of the Guidelines to support Polish companies with the first time implementation. We would like to thank the WSE and the EBRD for the collaboration and entrusting us again with the preparation of this important document”, said Magdalena Krzysztofik, Head of CEE at Steward Redqueen.

In view of the growing importance of non-financial reporting, GPW plans to offer a range of outreach activities for issuers, including workshops.

Read the ESG Reporting Guidelines. Guide for Companies Listed on GPW.

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The Warsaw Stock Exchange Group (GPW Group) operates trading platforms for shares, Treasury and corporate bonds, derivatives, electricity and gas, and provides indices and benchmarks including WIBOR and WIBID. The index agent FTSE Russell classifies the Polish capital market as a Developed Market since 2018. The markets operated by the GPW Group are the biggest in Central and Eastern Europe. For more information, visit www.gpw.pl

EBRD is an international financial institution and promotes private sector development and entrepreneurial initiatives in 36 economies on three continents. Since starting its operations in Poland more than 30 years ago, the EBRD has invested more than €13.2 billion in 508 projects across the country. Promoting a low-carbon economy and strengthening the role of the private sector are two key priorities for the EBRD’s engagement in Poland.