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:
- ESRS 1 General principles
- ESRS 2 General, strategy, governance and materiality assessment disclosure requirements
- ESRS E1 Climate change
- ESRS E2 Pollution
- ESRS E3 Water and marine resources
- ESRS E4 Biodiversity and ecosystems
- ESRS E5 Resource use and circular economy
- ESRS S1 Own workforce
- ESRS S2 Workers in the value chain
- ESRS S3 Affected communities
- ESRS S4 Consumers and end-users
- ESRS G1 Governance, risk management and internal control
- ESRS G2 Business conduct
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 firstname.lastname@example.org.