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ARTICLE · 27 JUNE 2024

EU CSRD: EFRAG Finalises Three ESRS Implementation Guidance Documents

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MAIG describes the reporting requirements for the materiality assessment, including the illustration of possible steps in the process.

European UnionCorporate/Commercial Law
Julia Voskoboinikova
Julia Voskoboinikova
Rachel Barrett
Rachel Barrett
David Ballegeer
David Ballegeer
Julia Grothaus
Julia Grothaus
Raza Naeem
Raza Naeem
Tom Cobbaert
Tom Cobbaert
James Marlow
James Marlow
Kim Rybarczyk
Kim Rybarczyk
Elizabeth Webb
Elizabeth Webb

On 31 May 2024, EFRAG published the first three ESRS Implementation Guidance (IG) documents to assist in-scope companies in complying with their new obligations under the Corporate Sustainability Reporting Directive (CSRD): IG 1 Materiality Assessment, IG 2 Value Chain and IG 3 List of ESRS Data Points, along with an Explanatory Note.

The draft IGs were open for public feedback from 22 December 2023 to 2 February 2024 (for more information on the draft IGs, see our previous blog post).

Each of the Implementation Guidance documents is accompanied by Feedback Statement that explain the main changes made to the final IGs.

IG 1 - Materiality Assessment (MAIG)

MAIG describes the reporting requirements for the materiality assessment, including the illustration of possible steps in the process. It provides tools and mechanisms for undertakings to comply with the ESRS while taking account of their specific facts and circumstances.

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