EFRAG proposes implementation guidance for ESRS
22 Dec, 2023
The European Financial Reporting Advisory Group (EFRAG) has published three draft documents that propose implementation guidance for the European Sustainability Reporting Standards (ESRS). The comment period for the draft implementation guidance ends on 2 February 2024.
The press release states that these documents cover the most challenging aspects regarding the implementation of ESRS, which were adopted by the European Commission in July 2023. They are as follows:
- Draft EFRAG IG 1 Materiality assessment implementation guidance, describing the reporting requirements on the materiality assessment process including an illustration of possible steps of the process and FAQs on the double materiality assessment.
- Draft EFRAG IG 2 Value chain implementation guidance, describing the reporting requirements on the value chain during the materiality statement, for impacts, risks and opportunity management as well as metrics and targets, including the reporting boundary of the group for sustainability reporting, FAQs to provide further information and a 'value chain map'.
- Draft EFRAG IG 3 Detailed ESRS datapoints implementation guidance, presenting the complete list of ESRS requirements in an Excel format. For this document, an explanatory note is also available.
The documents are proposed to be non-authoritative.
For more information, including on how to provide feedback on the documents, please see the press release on the EFRAG website.
