EFRAG Knowledge Hub
EFRAG launched its ESRS Knowledge Hub yesterday, a brand new integrated platform that brings together the essential building blocks for sustainability reporting under the European Sustainability Reporting Standards. We particularly like it because it provides a digital-first resource for issuers and users alike.
The hub takes an impressively cohesive approach. It combines adopted standards, the brand new simplified ESRS proposed standards, implementation guidance, as well as the Q&A explanations that EFRAG has issued since 2023. This tight integration means preparers can navigate from high-level requirements through to specific technical clarifications without jumping between disconnected resources. By the way, you can also navigate the VSME rules (and taxonomy) for the voluntary cut-down version suitable for small companies and supply-chain participants.
For companies adopting a digital-first approach to their disclosures, the hub provides most of what’s needed to get started, even before the updated XBRL taxonomy reflecting the simplified ESRSs is released. The current taxonomy maps each disclosure requirement to structured datapoints, and the hub’s interactive presentation helps preparers understand how their narrative and quantitative disclosures will ultimately need to be tagged to make their digital disclosures machine-readable.
Launched just a few days after EFRAG’s simplified ESRS proposals were finalised, companies can use the Knowledge Hub to understand both current requirements and the direction of travel, positioning themselves to produce sustainability statements that are structured for digital consumption from the outset.
It’s possible although not certain, that the Omnibus “trilogue” negotiations will be completed next week. However, as far as the ESRSs themselves are concerned, they now {Ed: merely!} await finalisation and endorsement from the European Commission, so although nothing is quite set in stone, there is more clarity now. The knowledge hub should be a welcome and timely addition and is a nice example for other jurisdictions and standards setters alike.
Find the hub here.
