EFRAG Publishes the ESRS Set 1 XBRL Taxonomy

30 August 2024

EFRAG publishes its XBRL Taxonomy for ESRS Set 1, which enables the digital tagging of ESRS statements. In addition, EFRAG publishes the XBRL Taxonomy for Article 8 disclosures that the EC requested EFRAG prepare. The digital taxonomies enable the marking up (‘tagging’) of sustainability reporting in machine-readable XBRL format.
EFRAG was tasked by the European Commission (EC) to develop the digital taxonomy for the ESRS adopted by the EC on 31 July 2023. The XBRL taxonomy released by EFRAG represents the correct digital transposition of the human-readable ESRS Set 1, in EFRAG’s opinion as the technical advisor to the European Commission that developed those standards.

This taxonomy will be the basis for the European Securities and Market Authority (ESMA) to develop Regulatory Technical Standards for tagging the ESRS sustainability statement.

The XBRL taxonomies and accompanying materials can be found below :
– Press Release ‘EFRAG publishes the ESRS Set 1 XBRL Taxonomy’
– EFRAG’s webpage on the ESRS Set 1 XBRL Taxonomy
– EFRAG’s webpage on the Article 8 XBRL Taxonomy

In addition to the XBRL taxonomy packages, a document entitled ‘Explanatory Note and Basis for Conclusions’ accompanies each taxonomy. It illustrates the basis for conclusions and the applied methodology and includes technical options considered for the preparation of the taxonomies. It also includes illustrations of the resulting reporting in machine-readable format to support the implementation of ESRS Set 1 Taxonomy.

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