On April 29, the European Financial Reporting Advisory Group (EFRAG) issued the first draft of sustainability reporting standards for public comment. The standards will require detailed corporate reporting on a broad range of environmental, social, and governance (ESG) issues, as well as audited assurance on the information disclosed. The new rules are part of Europe’s proposed Corporate Sustainability Reporting Directive (CSRD), which could be enacted into law as early as the end of 2022. The CSRD aims to strengthen sustainability reporting requirements under the existing Non-Financial Reporting Directive (NFRD) to improve corporate accountability, as well as the quality, consistency, and comparability of information disclosed.
- Learn which organizations are impacted and when
- What impacted organizations may be required to report/disclose
- Steps you can take immediately to prepare