EFRAG releases first Implementation Guidance on ESRS

On 31 May 2024, EFRAG released the first Implementation Guidance Material (IG) on the European Sustainability Reporting Standard (ESRS, Delegated Regulation (EU) 2023/2772) which specify the disclosure requirements of the Corporate Sustainability Reporting Directive (CSRD, Directive (EU) 2022/2464) on sustainability reporting. IG 1 contains guidance on the materiality assessment, IG 2 on reporting requirements along the value chain and IG 3 contains a list of all ESRS Set 1 data points. In addition to the Implementation Guidance, feedback statements on the public consultation and an explanatory note on IG 3 have also been published.

The Exposure drafts on these IG papers were in December 2023 and were open for public consultation until the beginning of February 2024. The DRSC has submitted its Comment letters on 16 January 2024 and on 1 February 2024.