In another important milestone on the path to sustainability reporting in the EU, the European Commission has announced its adoption of the European Sustainability Reporting Standards (ESRS).
The European Commission has now published, for a four week consultation period, a set of revisions to the European Sustainability Reporting Standards (ESRSs).
XBRL EU urges digital for sustainability disclosures at a meeting in Rome this week. At the very successful XBRL-EU conference in Rome earlier this week, the attendees heard a range of details about the upcoming implementation of the European Sustainability Reporting Standards (or ESRSs) via the CSRD, or Corporate Sustainability Reporting Directive.
ESG reporting is rapidly becoming the “new gold standard” of disclosure practices, with 94% of European and UK public companies intending to comply with the Corporate Sustainable Reporting Directive (CSRD), according to a survey of over 500 finance leaders by Workiva.
The EFRAG General Assembly has approved updates to its Due Process Procedures for Sustainability Reporting Standard Setting (DPP) to align them with the final provisions contained in the Corporate Sustainability Reporting Directive (CSRD).
This week the European Central Bank (ECB) led by example in publishing its own climate-related financial disclosures, demonstrating that its portfolios are on a path towards decarbonisation.
With Estonian reporting requirements expanding to include sustainability information in line with the EU’s Corporate Sustainability Reporting Directive (CSRD), this week an article weighs up the pros and cons for Estonian corporates.
The EU’s three European Supervisory Authorities (ESAs) published positive statements supporting the current draft of the European Sustainability Reporting Standards (ESRS) this week.
Interested in taking an active role in driving digital sustainability reporting forward in Europe? The European Financial Reporting Advisory Group (EFRAG) is seeking candidates with professional experience with XBRL to join its European Sustainability Reporting Standards (ESRS) Digital Reporting Consultative Forum (ESRS DRCF).
After the European Parliament gave the final stamp of approval to the Corporate Sustainability Reporting Directive (CSRD) on 10 November, last week the Directive was published in the Official Journal of the EU. The CSRD takes effect in May 2023 and will begin to impact disclosures from January 2024.