EFRAG Initiates Public Consultation on Draft ESRS XBRL Taxonomy

EFRAG Initiates Public Consultation on Draft ESRS XBRL Taxonomy

By Prathamesh 15 February, 2024
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The European Financial Reporting Advisory Group (EFRAG) has launched a public consultation on its Draft ESRS Set 1 XBRL Taxonomy and a Draft XBRL Taxonomy for Article 8 disclosures. This is a significant move towards enabling digital preparation and consumption of sustainability statements as per the Corporate Sustainability Reporting Directive (CSRD).

The digital taxonomy, developed by EFRAG and commissioned by the European Commission, will form the basis for ESMA to develop draft Regulatory Technical Standards for tagging ESRS sustainability statements. Stakeholders can access the consultation documents and questionnaires on EFRAG’s website until April 8, 2024.

EFRAG will host a workshop on February 29 to present the ESRS Set 1 Draft XBRL Taxonomy. Stakeholders are encouraged to participate in the consultation and provide feedback to shape the future of sustainability reporting standards in Europe.

To find out more details please visit : https://www.efrag.org/