EFRAG Reaches Another Milestone With Draft ESRS Standards

EFRAG Reaches Another Milestone With Draft ESRS Standards

By Prathamesh 29 November, 2022

This week the European Financial Reporting Advisory Group (EFRAG) reached a major milestone, releasing the first set of (almost) final draft European Sustainability Reporting Standards (ESRSs). Their publication follows a public consultation this summer.

The newly created ESRSs will be implemented in newly required sustainability reporting mandated by the Corporate Sustainability Reporting Directive (CSRD), which, as EFRAG reported last week, passed into EU law this month. The standards set out the reporting requirements for European companies in relation to a range of impacts, opportunities, and risks across a range of environmental, social and governance (ESG) topics.

EFRAG welcome this next stage in the development of the standards, which will, crucially, be made in Inline XBRL across the EU, with the taxonomy development about to commence. EFRAG congratulate everyone involved in getting the standards to this stage!

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