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ARTICLE · 23 AUGUST 2023

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A Step Closer To The European Sustainability Reporting Standards

Travers Smith LLP
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On 9 June, the European Commission published a draft delegated act containing the European Sustainability Reporting Standards ("ESRS") which will implement the Corporate Sustainability Reporting Directive ("CSRD").

United KingdomEnvironment
Sarah-Jane Denton
Sarah-Jane Denton
Alexandra MacBean
Alexandra MacBean
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On 9 June, the European Commission published a draft delegated act containing the European Sustainability Reporting Standards ("ESRS") which will implement the Corporate Sustainability Reporting Directive ("CSRD"). Many organisations are setting out on the journey towards CSRD compliance by understanding how their organisation will need to report (if at all). For those that have already assessed themselves to be in the scope of CSRD, the latest draft ESRS will be of high interest, as they define the scale of the impending reporting task.

The Commission picks up the baton from EFRAG

Advisory body EFRAG published "final draft" standards in November 2022, having earlier released exposure drafts which were subject to fairly extensive revision based on public comments (see our earlier briefing for full details). The European Supervisory Agencies (e.g. ESMA) largely supported EFRAG's ESRS draft, and EFRAG was confident that the final standards (which will be

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