Implementation guidance documents and other news connected with the European sustainability reporting standards (ESRS)

Following publication of the Corporate Sustainability Reporting Directive (CSRD) and the European Commission's adoption of the first delegated act  with the first set of standards, EFRAG has now launched a public consultation on the following documents:

• The first three implementation guidance documents for European sustainability reporting standards (ESRS), in connection with the most challenging aspects of their application:
  
  • Draft materiality assessment implementation guidance.
  • Draft value chain implementation guidance 
  • Draft ESRS datapoints implementation guidance
• The draft ESRS for SMEs, containing the mandatory standards for listed SMEs and the voluntary standards for unlisted SMEs.

For the first set, the public consultation period ends on February 2, and for the second, on March 24, 2024.

Elsewhere, initiatives included on this subject in the European Commission's work programme for 2024 are also unfolding. As seen on January 24, 2024, when the European Parliament announced the approval by MEPs on the Legal Affairs Committee of a proposal to delay key aspects of the CSRD by two years, such as the adoption of sector-specific standards and of standards for sustainability reporting by companies outside the EU.

In relation to sector-specific standards, EFRAG’s work plan for 2024 includes the elaboration of reporting standards for the following eleven sectors: oil and gas, mining, quarrying and coal; motor vehicles; road transport; agriculture; food and beverages; energy; textiles; banks, insurance; capital markets.