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16 November 2021

EFRAG: PTF-ESRS – on track to meet ambitious timeline, five months into the drafting of European Sustainability Reporting Standards (ESRS)


The Project Task Force on European sustainability reporting standards (PTF-ESRS) has prepared a detailed five-month status report outlining the progress to date for the elaboration of sustainability reporting standards following the recommendations of the PTF-NFRS

Following the request from the European Commission to start technical work building on the recommendations of the PTF-NFRS, EFRAG is making substantial progress in developing draft European sustainability reporting standards, while reforming its governance structure. Read the full status report here.


​The Project Task Force on European sustainability reporting standards (PTF-ESRS) has prepared a detailed five-month status report outlining the progress to date for the elaboration of sustainability reporting standards following the recommendations of the PTF-NFRS.

Progress to date includes:

  • EU-wide mobilisation of multi-stakeholder resources (the 35 member PTF-ESRS itself, 10 representatives of European public authorities, more than 30 FTE Secretariat and the 11 Expert Working Groups with 71 members).
  • Cluster organisation aiming at delivering a first set of draft standards prepared in accordance with the ESG coverage requested by the CSRD proposal and building on the recommendations of the PTF-NFRS.
  • Cluster working papers (V0 draft and basis for conclusions) prepared on most topics by the end of 2021.
  • Robust due process combining cluster work, consensus building and expert input, under full transparency (status report, cluster working papers made available when submitted to the PTF-ESRS ...).
  • Public consultation expected to start early 2022.
  • Cooperation and extensive discussions with key international initiatives in order to build on and contribute to co-construction and convergence of sustainability reporting standards.
Next steps are expected to enable the PTF-ESRS to meet its objectives with a proper hand-over to EFRAG’s sustainability reporting standards bodies as soon as established.

Read the full PTF-ESRS status report here.


EFRAG



© EFRAG - European Financial Reporting Advisory Group


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