Under the European Commission’s proposal for a Corporate Sustainability Reporting Directive (CSRD), EU Sustainability Reporting Standards (ESRS) shall be adopted. The European Financial Reporting Advisory Group (EFRAG) was requested by Commissioner McGuinness to provide technical advice to the European Commission preparing draft standards.

On 29 April 2022, EFRAG published draft ESRS for consultation until 8 August 2022. Finalised versions – adopted through Delegated Acts by the European Commission – will constitute reporting requirements under the proposed CSRD.

The following draft ESRS have been published for consultation:

The consultation survey document 1 and 2 are available online. EFRAG also published a cover note on the public consultation providing further background information.

The PRI has previously provided views and recommendations on sustainability reporting developments in Europe through consultation responses and public statements.

Under PRI’s Driving Meaningful Data program, we will work with our signatories to engage and provide feedback on the ESRS Exposure Drafts. This will include:

  • A signatory briefing note summarising the ESRS Exposure Drafts
  • A consolidated PRI consultation response reflecting signatories’ views and PRI’s own research – a draft consultation response will be shared with all signatories for feedback
  • Comments and questions can be addressed through the collaboration platform workstream
  • Technical discussions as part of PRI’s Corporate Reporting Reference Group – if you are interested in joining this group, please visit our call for applications page for details on the application process

For any queries about our work and engagement in this area, please contact dmd@unpri.org.