According to the draft Corporate Sustainability Reporting Directive (CSRD) proposed by the European Commission in April 2021, the purpose of the standards is to specify the new sustainability reporting requirements of the amended Accounting Directive. While working papers on the standards have been published by EFRAG since January 2022, these are now the final drafts and comments are invited on them. The thirteen exposure drafts correspond to the first set of standards required under the CSRD proposal and cover the following areas of sustainability reporting:

• Cross-cutting Exposure Drafts (ESRS 1 and ESRS 2)
• Topical standards – Environment (ESRS E1 to ESRS E5)
• Topical standards – Social (ESRS S1 to ESRS S4)
• Topical standards – Governance (ESRS G1 and ESRS G2)

Further accompanying papers, such as a cover note including appendices, are part of the consultation package as well. Constituents are invited to provide their views online via a comprehensive multiple choice/multiple response survey tool which addresses the individual disclosure requirements in addition to higher-level questions (e.g., on the architecture of the standards). In addition, the survey tool provides for additional comments to be uploaded that deal with aspects other than those addressed in the questionnaire.

The EFRAG Sustainability Reporting Board and its Technical Experts Group will consider the exposure drafts in parallel with the public consultation. Together with the input and results from the public consultation, they will agree the final first set of draft ESRS to be submitted to the European Commission by November 2022.

Please click to access the exposure drafts and press release on the EFRAG website.

Deloitte's iGAAP in Focus outlines the background, proposed architecture of ESRS, proposed cross-cutting standards and proposed topical standards.