EFRAG releases implementation guidance for ESRS
EFRAG releases implementation guidance for ESRS
EFRAG released its first three ESRS Implementation Guidance documents: EFRAG IG Materiality Assessment, EFRAG IG 2 Value Chain and EFRAG IG 3 ESRS Datapoints.
These documents are non-authoritative and are aimed to support implementation as follows:
IG 1: Materiality Assessment Implementation Guidance provides an illustrative materiality assessment process for undertakings, and it develops the concept of impact and financial materiality with a number of examples, including how these two concepts interplay. It also contains FAQs on the double materiality assessment to provide practical implementation guidance on disclosing material impacts, risks and opportunities.
IG 2: Value Chain Implementation Guidance outlines the reporting requirements for the value chain from materiality assessment to policies and actions to metrics and targets. It illustrates the reporting boundary of the group for sustainability reporting, including the concept of operational control in environmental standards. The IG also includes FAQs for further information and a 'value chain map' summarising value chain implications per disclosure requirement across all ESRS.
IG 3: List of ESRS Datapoints covers the complete ESRS Set 1 list of detailed requirements in each Disclosure Requirement and related Application Requirements and translates these in Excel format. The file contains additional information, such as the types of requirement (for example, quantitative or qualitative) or whether these are subject to transitional provisions.
In addition, the feedback statements published EFRAG demonstrate how the feedback received during the consultation period has been reflected in the final documents.
The links to the press release, the IGs as well as to the feedback statements and explanatory note are provided below:
Press release
EFRAG IG 1
EFRAG IG 1 feedback statement
EFRAG IG 2
EFRAG IG 2 feedback statement
EFRAG IG 3
EFRAG IG 3 feedback statement
EFRAG IG 3 explanatory note
These documents are non-authoritative and are aimed to support implementation as follows:
IG 1: Materiality Assessment Implementation Guidance provides an illustrative materiality assessment process for undertakings, and it develops the concept of impact and financial materiality with a number of examples, including how these two concepts interplay. It also contains FAQs on the double materiality assessment to provide practical implementation guidance on disclosing material impacts, risks and opportunities.
IG 2: Value Chain Implementation Guidance outlines the reporting requirements for the value chain from materiality assessment to policies and actions to metrics and targets. It illustrates the reporting boundary of the group for sustainability reporting, including the concept of operational control in environmental standards. The IG also includes FAQs for further information and a 'value chain map' summarising value chain implications per disclosure requirement across all ESRS.
IG 3: List of ESRS Datapoints covers the complete ESRS Set 1 list of detailed requirements in each Disclosure Requirement and related Application Requirements and translates these in Excel format. The file contains additional information, such as the types of requirement (for example, quantitative or qualitative) or whether these are subject to transitional provisions.
In addition, the feedback statements published EFRAG demonstrate how the feedback received during the consultation period has been reflected in the final documents.
The links to the press release, the IGs as well as to the feedback statements and explanatory note are provided below:
Press release
EFRAG IG 1
EFRAG IG 1 feedback statement
EFRAG IG 2
EFRAG IG 2 feedback statement
EFRAG IG 3
EFRAG IG 3 feedback statement
EFRAG IG 3 explanatory note