Sustainability Reporting News: EFRAG Released 3 Drafts Documents Explaining Crucial Aspect of The ESRS

🌍 Significant Development for Sustainability Experts: On 22nd December 2023, EFRAG published three pivotal draft ESRS Implementation Guidance (IG) documents. These drafts mark a critical advancement in the realm of sustainability reporting and are now open for public feedback.

📑 Insights into the Draft Documents:

1. Draft EFRAG IG 1 - Materiality Assessment: This document delves into the materiality assessment requirements in ESRS, offering a comprehensive view of reporting requirements, a step-by-step process, and FAQs on the double materiality assessment to aid practical implementation.

2. Draft EFRAG IG 2 - Value Chain Aspects: Focuses on value chain reporting within ESRS. It outlines requirements for the materiality statement related to impacts, risks, opportunities management, and more. The inclusion of a 'value chain map' provides an overview of VC implications per disclosure requirement.

3. Draft EFRAG IG 3 - Detailed ESRS Datapoints: Presents an exhaustive list of ESRS datapoints in an Excel format, accompanied by an explanatory note. This essential tool aids organizations in conducting a thorough data gap analysis.

🗓 Feedback Invitation: Stakeholders are encouraged to review these documents and provide their insights by 2 February 2024. This feedback period is a golden opportunity to influence the future of sustainability reporting.

🔍 Why It Matters: These non-authoritative drafts address some of the most challenging aspects of ESRS implementation. They serve as practical guides for organizations navigating the complexities of new reporting requirements.

📊 Enhancing Your Reporting Strategy: For those immersed in sustainability reporting, these documents offer crucial guidance. They are instrumental in understanding the intricacies of materiality assessment and value chain reporting, ensuring robust compliance.

🔗 Explore the Drafts:

• Materiality Assessment Implementation Guidance

• Value Chain Implementation Guidance

• Detailed ESRS Datapoints Implementation Guidance