EFRAG PTF-ESRS issues more working papers on sustainability reporting standards

On 18 February 2022 the EFRAG Project Task Force on European sustainability reporting standards (PTF-ESRS) has published on its website more working papers for sustainability reporting standards (so called Batch 2). The first six working papers (Batch 1) were published on 20 January 2022 (see ASCG-News Item).

Again, these working papers reflect the current state of the standard setting work carried out by the PTF following the temporary mandate from the European Commission (COM) as of May 12, 2021. After publication of six working papers in Batch 1 today’s Batch 2 comprises of three working papers on environmental topics: ESRS E2 Pollution, ESRS E3 Water and marine resources and ESRS E5 Circular economy. With only ESRS E4 Biodiversity & ecosystems left to be published this almost completes the set of working papers on environmental topics. ESRS E1 Climate change was published as part of Batch 1.

In the Cover Note the PTF announced the publication of further working papers in the upcoming weeks. Again, the PTF emphasises that the publication of these working papers is to ensure a transparent process, there is, however, no public consultation at this point; this is planned for a later date, which, however, was not specified. Until then the PTF will go through with its internal review process which includes feedback from the Expert Working Groups.

The Sustainability Reporting Technical Committee of the ASCG as well as the ASCG Climate Reporting Working Group will further thoroughly address these PTF working papers in their meetings (and have discussed Batch 1 in an earlier meeting of this Technical Committee, click for further information).

The PTF activities in this regard are in response to Article 19b of the COM’s draft of 21 April 2021 for a Corporate Sustainability Reporting Directive (CSRD). In this draft, the COM proposes to specify the new reporting requirements on sustainability through reporting standards. The draft directive also provides for a mandate to EFRAG to develop technical advice on the basis of which the COM will adopt the relevant delegated acts.