ESRS_first set of draft European Sustainability Reporting Standards.pdf
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In April 2021, the European Commission adopted a legislative proposal for a Corporate Sustainability Reporting Directive (CSRD) that requires companies within the scope to report using double materiality perspective in compliance with European Sustainability Reporting Standards (ESRS) adopted by the European Commission as delegated acts. Under the proposed CSRD, EFRAG was appointed technical adviser to the European Commission developing draft ESRS. On 23rd of November 2022, EFRAG delivers the first set of draft ESRS to the European Commission.
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ESRS_first set of draft European Sustainability Reporting Standards.pdf
- 1. draft ESRS European Sustainability Reporting Standards EFRAG delivers the first set of draft ESRS to the European Commission on 23.11.2022 February 2023
- 2. Index • ESRS first set of draft European Sustainability Reporting Standards • ESRS Overview • ESRS Architecture • Cross-cutting standards • Glossary • Source 2 Feb 2023 draft ESRS European Sustainability Reporting Standards
- 3. ESRS first set of draft European Sustainability Reporting Standards 3 Feb 2023 draft ESRS European Sustainability Reporting Standards In April 2021, the European Commission adopted a 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. Under the proposed CSRD, EFRAG was appointed technical adviser to the European Commission developing draft ESRS. On 23rd of November 2022, EFRAG delivers the first set of draft ESRS to the European Commission
- 4. ESRS Overview 4 Feb 2023 draft ESRS European Sustainability Reporting Standards TARGTS METRICS Topical sector agnostic standards ESRS E3 Water and marine resources ESRS E1 Climate change ESRS E2 Pollution ESRS E4 Biodiversity and ecosystems ESRS E5 Resource use & circular economy ESRS S2 Workers in the value chain ESRS S1 Own workers ESRS S3 Affected communities ESRS S4 Consumers & end users ESRS G1 Business Conduct Cross-cutting standards ESRS 2 General disclosures ESRS 1 General requirements ENVIRONMENT SOCIAL GOVERNANCE
- 5. ESRS Architecture 5 Feb 2023 ESRS Overview on the draft European Sustainability Reporting Standards
- 6. Cross-cutting Standards 6 Feb 2023 draft ESRS European Sustainability Reporting Standards TARGTS METRICS Cross-cutting standards ESRS 2 General disclosures • Materiality approach: Double Materiality as the basis for sustainability disclosures • Due Diligence process to identify IROs (impacts, risks and opportunities) • Value chain: inclusion of material value chain information • Covers the reporting areas: • Governance, Strategy, Impact Risks & Opportunities • For each material sustainability matter disclose: Policies, Targets, Actions, Metrics ESRS 1 General requirements
- 7. Glossary 7 Feb 2023 ESRS Overview on the draft European Sustainability Reporting Standards DEFINITION ACRONYM Corporate Sustainability Reporting Disclosure CSRD European Financial Reporting Advisory Group EFRAG European Sustainability Reporting Standards ESRS Global Reporting Initiative GRI International Financial Reporting Standards IFRS International Sustainability Standards Board ISSB The EU’s framework to facilitate sustainable investments (Regulation EU 2020/852) EU TAXONOMY The EU’s Sustainable Finance Disclosure Regulation (Regulation EU 2019/2088 SFDR
- 8. Source • EFRAG, First Set of draft ESRS https://efrag.org/lab6 • EFRAG, Press release 23 November 2022 «EFRAG delivers the first set of draft ESRS to the European Commission» • EFRAG EDs on draft ESRS – Outreach event June/July 2022 • Osservatorio ESG n.152 «ESRS: principi europei di rendicontazione della sostenibilità primo set di standard rilasciato da EFRAG il 23.11.2022» https://www.aiaf.it/osservatorio-esg • SFDR https://eur-lex.europa.eu/legal-content/EN • CSRD https://ec.europa.eu/commission/presscorner/detail/en/qanda_21_1806 8 Feb 2023 ESRS Overview on the draft European Sustainability Reporting Standards
- 9. Marianna Sorrente EFFAS Certified ESG Essentials© Email: m.sorrente@gmail.com Linkedin.com/in/mariannasorrente 9 ESRS Overview on the draft European Sustainability Reporting Standards