In this context, EFRAG is requested to provide Technical Advice to the European Commission in the form of fully prepared draft standards and/or draft amendments to Sustainability Reporting Standards.

The proposal for a CSRD requires that EFRAG’s Technical Advice is prepared with ‘proper due process, public oversight and transparency, and with the expertise of relevant stakeholders, and it is accompanied by cost-benefit analyses that include analyses of the impacts of the Technical Advice on sustainability matters’, contributing to the delegated acts through which the ESRS will be adopted in the EU.

EFRAG is consulting on its proposed Due Process Procedures ​which stipulate the requirements to be followed in its role as technical advisor to the European Commission in the preparation of draft ESRS or draft amendments of ESRS.

EFRAG invites comments on all aspects of the proposed Due Process Procedures.

Comments are expected no later than 15 September 2021 and should be addressed to:  ESRSdueprocess@EFRAG.org

Read Commissioner McGuinness letter.​