EFRAG submitted the first set of draft ESRS to the European Commission in its role as technical adviser to the European Commission. This first set, approved by the EFRAG SRB, supported by the EFRAG SR TEG, takes into consideration the input from the public consultation on the draft ESRS EDs.
See EFRAG's advice package here.
Read the press release here.
This first set of 12 draft ESRS is composed of:
Cross-cutting standards:
- Draft ESRS 1 General requirements
- Draft ESRS 2 General disclosures
Topical standards:
Environment:
- Draft ESRS E1 Climate change
- Draft ESRS E2 Pollution
- Draft ESRS E3 Water and marine resources
- Draft ESRS E4 Biodiversity and ecosystems
- Draft ESRS E5 Resources and circular economy
Social:
- Draft ESRS S1 Own workforce
- Draft ESRS S2 Workers in the value chain
- Draft ESRS S3 Affected communities
- Draft ESRS S4 Customers and end-users
Governance:
- Draft ESRS G1 Business conduct
The
publication of the draft standards is accompanied by: a Cover letter, a
Due process note setting out the process applied and the main
differences between the exposure drafts and the draft ESRS, an
Explanatory note, including its Annex, of how draft ESRS take account of
the initiatives and legislation listed in Article 1 (8) of the CSRD
adding article 29 (b) -5 to the Accounting Directive, EFRAG’s Cover
Letter on the Cost-benefit analysis of the First Set of draft ESRS, a
Cost-benefit analysis of the First Set of draft ESRS prepared by
CEPS
and Milieu and six appendices. The bases for conclusions will be
published in December.
Kerstin Lopatta, former
EFRAG Acting SRB Chair, stated: “
On
behalf of the EFRAG SRB, as Acting Chair, it is my great pleasure to
deliver today the first set of 12 draft European Sustainability
Reporting Standards (ESRS) as Technical Advice to the European
Commission. We can be proud of this outcome of a due process involving
all European stakeholders since June 2021 and of this critical
contribution to establishing sustainability reporting in the EU on
robust foundations. Our goal has been to strike the right balance
between a game-changing step forward and a pragmatic implementation and
to foster global sustainability reporting progress while taking full
account of the feedback received through our public consultation and
deliberations. We are confident that we will all in due course benefit
from this collective effort towards more transparency and
accountability.”
Chiara Del Prete,
EFRAG Acting SR TEG Chair, commented: “
As
EFRAG SR TEG Acting Chair and having led on the field the activities of
the EFRAG Secretariat, I am today proud and honoured that EFRAG has
accomplished his challenging mission to deliver to the European
Commission the first Set of ESRS, following its multi-stakeholder due
diligence process. I am particularly grateful to my fellow EFRAG SR TEG
members who managed to reach a consensual approval in issuing the EFRAG
SR TEG advice to the EFRAG SRB and, for their tireless support, to all
the members of the EFRAG Secretariat.”
EFRAG
© EFRAG - European Financial Reporting Advisory Group
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