Germany / Voluntary framework
Deutsche Börse ESG
Deutsche Börse ESG Reporting Guide — The cornerstones of integrated ESG Reporting (Mar 2025)
Adopted2025-03Modified
Topic : ESG disclosure · Level : Stock exchange
Today
Voluntary recommendations. No fines. German listed issuers follow CSRD/ESRS and HGB rules instead.
Summary
Deutsche Börse has issued voluntary recommendations on ESG communication for its issuers. They carry no sanctions. Binding duties for German listed firms come from CSRD/ESRS, HGB and LkSG.
Who is concerned
- Turnover
- non précisé
- Employees
- non précisé
- Listed company
- cotées seulement
- Sectors
- All sectors
- Triggering activities
- Shares listed on Frankfurt Stock Exchange
- Extraterritorial reach
- No
non précisé
- Examples
- Prime Standard industrial issuer
- SDAX technology company
What the law requires
- Report material ESG KPIs to investors
- Use recognised frameworks for ESG data
- Explain ESG strategy and governance
Penalties
None. Voluntary; no Deutsche Börse fines.
SUPPLIER INTELLIGENCE
What this changes for a supplier in China
Indirect. German listed buyers request supplier ESG data mainly under CSRD and LkSG, not this guide.
Expected evidence
- Scope 1-2 emissions
- Supplier code of conduct
- Social audit summary
Tiers : Tier 1