These educational sessions were recorded based on the first set of draft ESRS that EFRAG submitted to the European Commission in November 2022 in its role as technical adviser to the EC and not on the version of the draft delegated act released by the European Commission in June 2023 for a 4-week period of public feedback. For each standard, our sustainability reporting experts offer you a choice of the glimpses, which will give you a brief overview, or the educational session for more technical details. This series of educational videos on the First set of draft ESRS provides interested stakeholders with an introduction to the draft standards. Listed SMEs are obliged to report as from 2026, with a further possibility of voluntary opt-out until 2028, and will be able to report according to separate, proportionate standards that EFRAG will develop next year.īack to topEducational videos on the first set of draft ESRS The first companies will have to apply the standards in financial year 2024, for reports published in 2025. The reporting requirements will be phased in over time for different kinds of companies. Adoption of ESRS by Delegated Act is mandated by the co-legislators in the Corporate Sustainability Reporting Directive (CSRD - Directive (EU) 2022/2464) adopted in December 2022. The EFRAG Sustainability Reporting Board (EFRAG SRB), advised by the EFRAG Sustainability Reporting Technical Expert Group (EFRAG SR TEG), addressed the feedback of the consultation and amended accordingly the twelve draft ESRS that are released today to European Commission.ĮFRAG welcomed the adoption of the Delegated Act on the first set of European Sustainability Reporting Standards (ESRS) by the European Commission on 31 July 2023 ( press announcement, Q&As webpage & implementing and delegated acts – CSRD webpage). The ESRS Exposure Drafts (EDs) prepared by the EFRAG Project Task Force on European Sustainability Reporting Standards (EFRAG PTF-ESRS) during the period from June 2021 till April 2022 were exposed for comments from 30 April to 8 August 2022. This was confirmed by the text of 21 June resulting from the trilogue between the co-legislators and the text of 10 November 2022 approved by the European Parliament. Under the proposed CSRD, EFRAG was appointed technical adviser to the European Commission developing draft ESRS. ![]() ![]() Legislative proposal for a Corporate Sustainability Reporting Directive (CSRD) that requires companies within its scope to report using a double materiality perspective in compliance with European Sustainability Reporting Standards (ESRS) adopted by the European Commission as delegated acts. In April 2021, the European Commission adopted a
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