Following on from our previous updates on the Corporate Sustainability Reporting Directive ("CSRD"), the Delegated Act adopting the European Sustainability Reporting Standards ("ESRS") was published in the Official Journal of the EU on 22 December 2023. The 12 sector-agnostic reporting standards for CSRD are therefore now final.
The European Financial Reporting Advisory Group ("EFRAG"), in developing the standards, has issued three guidance documents to help with the implementation of the 12-sector agnostic standards as follows:
- Draft EFRAG IG 1 provides guidance on the materiality assessment;
- Draft EFRAG IG 2 speaks to the value chain requirements of the ESRS; and
- Draft EFRAG IG 3 contains the detailed ESRS datapoints with an accompanying explanatory note. These documents are available on the EFRAG website. Feedback via surveys is possible until Friday 2 February 2024.
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