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Reforming ESG: a European and Global South perspective.

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Title: Reforming ESG: a European and Global South perspective.
Authors: Borghesi, Simone1,2,3 (AUTHOR) Simone.borghesi@unisi.it, Costantini, Valeria2,3,4 (AUTHOR), D'Amato, Alessio3,5 (AUTHOR), Dibattista, Ilaria1,2,3,4 (AUTHOR), Koundouri, Phoebe5,6,7 (AUTHOR), Li, Qinci6,8 (AUTHOR), Mazzarano, Matteo1,2,3,7 (AUTHOR), Sterner, Thomas8,9 (AUTHOR), Tiwari, Mira Manini1,2,9 (AUTHOR), Vis, Peter1,10 (AUTHOR), Xepapadeas, Anastasios6,11 (AUTHOR)
Source: Environment & Development Economics. Aug2025, Vol. 30 Issue 4, p282-296. 15p.
Subject Terms: *Sustainability, *Environmental responsibility, Developing countries, Decision making in investments, Equity management, Government accountability, European Union law, Social accounting
Company/Entity: European Union
Abstract: The EU's non-financial reporting (NFR) regulations have significant impacts on Global South stakeholders, firms that must report, actors lower in the value chain, and organisations seeking investment from NFR-compliant firms or institutions. This paper sets forth six proposals to improve the global equity and sustainability implications of the EU's NFR from a Global South perspective. The proposals involve (1) developing regulation cooperatively with the Global South; (2) streamlining reporting to enable the regulations to have real effects and limit incorrect accounting; (3) digitalising reporting through accessible technologies for greater accountability and lower administrative burdens; (4) mandating scope 3 emissions accounting and incentivising related investment; (5) anchoring financial institutions' role in ethical investment and bridging Northern and Southern actors; and (6) strengthening citizen data and sustainability literacy to close the circle of incentives, implementation, and impact. [ABSTRACT FROM AUTHOR]
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Database: GreenFILE
Description
Abstract:The EU's non-financial reporting (NFR) regulations have significant impacts on Global South stakeholders, firms that must report, actors lower in the value chain, and organisations seeking investment from NFR-compliant firms or institutions. This paper sets forth six proposals to improve the global equity and sustainability implications of the EU's NFR from a Global South perspective. The proposals involve (1) developing regulation cooperatively with the Global South; (2) streamlining reporting to enable the regulations to have real effects and limit incorrect accounting; (3) digitalising reporting through accessible technologies for greater accountability and lower administrative burdens; (4) mandating scope 3 emissions accounting and incentivising related investment; (5) anchoring financial institutions' role in ethical investment and bridging Northern and Southern actors; and (6) strengthening citizen data and sustainability literacy to close the circle of incentives, implementation, and impact. [ABSTRACT FROM AUTHOR]
ISSN:1355770X
DOI:10.1017/S1355770X24000366