EFRAG makes Climate Standard Working paper publicly available

On 8 September 2021, during its plenary session, the EFRAG Project Task Force on European sustainability reporting standards (PTF-ESRS) addressed the Working paper “Climate standard prototype” and published it on the EFRAG website subsequently. The working paper is not meant to be an Exposure draft for public consultation; however, it is intended to inform the public about the status of the work done so far.

Georg Lanfermann, President of the Accounting Standards Committee of Germany (ASCG), welcomed this step: “Keeping the public informed on the PTF’s work has been an important matter to the ASCG. Also, the link to international standards such as TCFD is to be welcomed. This is in line with many stakeholders’ request for European Standards that are aligned with a common denominator in terms of a global baseline.”

The ASCG has decided to set up an expert working group to address the EFRAG’s and ISSB’s drafts on climate reporting standards in detail. The formation of this working group will be announced soon.