EFRAG releases first set of ESRS technical explanations

Posted on February 17, 2024 by Editor

Last week EFRAG (European Financial Reporting Advisory Group) announced the release of its first set of technical explanations, aimed at assisting stakeholders in implementing the European Sustainability Reporting Standards (ESRS).

The explanations, available via the EFRAG ESRS Q&A Platform, provide practical guidance to preparers navigating the complexities of the ESRS. They have been published in tandem with the first release of the ESRS taxonomy.

Launched at the end of 2023, the ESRS Q&A Platform serves as a hub for collecting and addressing technical questions related to the ESRS. The newly released explanations complement the Implementation Guidance already provided on the platform.

The initial batch of explanations are designed to offer clarity on ESRS content. They cover a range of topics, including cross-cutting standards, environment, social sustainability, governance, and XBRL. EFRAG plans to release subsequent sets of explanations on a quarterly basis, ensuring ongoing support for stakeholders as they navigate ESRS implementation.

We encourage our readers to engage with the ESRS Q&A Platform and utilise the available resources to navigate the evolving landscape of sustainability reporting.

For access to the full set of explanations, click here.

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