European Sustainability Reporting Standards (ESRS)

ESG
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Frameworks and Standards
January 24, 2024

The ESRS standards are reporting standards for sustainability within the EU. The ESRS standards are an integral part of the CSRD, the Corporate Sustainability Reporting Directive of the European Parliament and the Council. This means that the ESRS reporting standards are mandatory. The adoption of the first set of 12 standards by the Commission is considered a significant step to promote sustainable practices and transparency in companies and to contribute to their comparability. This is because the new reporting requirements herald major changes in sustainability reporting and these will affect around 50,000 companies based in the EU. However, subsidiaries, branches abroad and companies that carry out a large part of their business activities in the EU area may also be indirectly affected, which is why the scope of impact can be significantly broader.

What are the Standards (Denstatt)

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Frameworks and Standards

IFRS S2

The objective of IFRS S2 is to require an entity to disclose information about its climate-related risks and opportunities that is useful to users of general-purpose financial reports in making decisions relating to providing resources to the entity.
Frameworks and Standards

GHG Protocol Corporate Standard

Scope 1, 2, and 3 emissions
Frameworks and Standards

SFDR

The Sustainable Finance Disclosure Regulation (SFDR) is a European regulation introduced to improve transparency in the market for sustainable investment products, to prevent greenwashing and to increase transparency around sustainability claims made by financial market participants. It imposes comprehensive sustainability disclosure requirements covering a broad range of environmental, social & governance (ESG) metrics at both entity- and product-level. The main provisions of the SFDR have been applicable as of 10 March 2021, with a statutory instrument known as a Delegated Act containing more precise disclosure standards yet to be adopted by the European Commission.
Frameworks and Standards

UN SDGs

17 United Nations Sustainable Development Goals:
Frameworks and Standards

IFRS Foundation

The IFRS Foundation is a not-for-profit, public interest organization established to develop high-quality, understandable, enforceable, and globally accepted accounting and sustainability disclosure standards. Our Standards are developed by our two standard-setting boards, the International Accounting Standards Board (IASB) and Ithe International Sustainability Standards Board (ISSB).
Frameworks and Standards

European Sustainability Reporting Standards (ESRS)

The European Sustainability Reporting Standards (ESRS) are a set of comprehensive guidelines created to support the Corporate Sustainability Reporting Directive (CSRD).