SASB General Issue Category: Social Capital

Understand which companies fall under the CSRD after the 2025 simplifications, including new thresholds, reporting deadlines, and expanded scope for non-EU operations.

Pharmacy Benefit Managers (PBMs) operate at the financial heart of the U.S. prescription drug system, yet their opaque practices introduce significant ESG risks—especially regarding access to medicine, pricing transparency, and ethical governance. As regulators and standards bodies press for more accountability, stakeholders must consider PBMs' impact when disclosing under IFRS S1/S2, SASB, and GRI frameworks.

MiFID II stands for the "Markets in Financial Instruments Directive II." It's a law in the European Union (EU) that regulates companies providing services linked to financial instruments (like stocks, bonds, units in collective investment schemes, and derivatives) and the places where those instruments are traded (like stock exchanges). Think of it as a set of rules to make financial markets more transparent, safe, and fair for everyone, especially for individual investors.

The IDD is about setting EU-wide rules for selling insurance products. It came into effect in October 2018.

The European Sustainability Reporting Standards (ESRS) are a set of standards developed under the mandate of the Corporate Sustainability Reporting Directive (CSRD) by the European Financial Reporting Advisory Group (EFRAG). The ESRS aims to provide a unified framework for sustainability reporting within the European Union, enhancing the consistency, comparability, and reliability of sustainability information provided by companies.

Diversity refers to the range of differences and similarities among people. Equity ensures fair access to resources and opportunities, while inclusion involves creating a culture where everyone feels valued and respected. Together, diversity, equity, and inclusion are important for promoting a fair, just, and thriving society.