In March the European Financial Reporting Advisory Group (EFRAG) set up a new Sustainability Reporting Board, which provides technical advice to the European Commission on draft EU Sustainability Reporting Standards.
One of the members of the newly created board is Annina Tanhuanpää of the Finnish co-operative bank, OP Financial Group, who was nominated by the European Association of Cooperative Banks (EACB), the European Banking Federation (EBF) and the European Saving Banks Group (ESBG).
OP is Finland’s largest financial services group, with 121 OP co-operative banks, two million customer-owners, 13,000 employees, and a 38% retail and corporate banking market share.
Ms Tanhuanpää told EACB: “I am excited and honoured to join EFRAG’s new Sustainability Reporting Board. Together with the wide range of experts of the Technical Expert Group (TEG), the board will be building the EU Sustainability Reporting Standards, which will subsequently be adopted by the European Commission (EC) via delegated acts”.
EACB CEO Nina Schindler said: “The EACB warmly welcomes Annina’s appointment and is proud that the co-operative banking networks could present such a high-level leadership profile.
“We are convinced that Annina is an excellent choice: her profile combines in-depth knowledge of ESG reporting and of the banking business with political awareness. I wish Annina and the whole new EFRAG Board much success in achieving the EU targets under a tight timeframe.”
The EFRAG Sustainability Reporting Board brings together representatives from European stakeholders, national organisations and civil society organisations.