The European Commission’s proposal for a Corporate Sustainability Reporting Directive
(CSRD) envisages the adoption of EU Sustainability Reporting Standards (ESRS). The sustainability reporting standard-setting work is carried out by the European Financial Reporting Advisory Group (EFRAG). It will extend the EU's sustainability reporting requirements to all large companies and all listed companies. The Commission proposes the development of standards for large companies and separate, proportionate standards for SMEs, which non-listed SMEs can use voluntarily.
Frequently Asked Questions on the CSRD proposal
The public consultation on the first set of draft ESRs has now closed and we expect to see the first set of draft ESRS to the European Commission.
IAASA links on Sustainability
IFRS Sustainability Disclosure Standard (IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information & IFRS S2 Climate-related Disclosures).