The Commission has just published the Delegated Act on European Sustainability Reporting Standards (ESRS), together with a call for feedback until July 7th.
The Commission has made the following modifications to the draft standards submitted by EFRAG:
- Materiality: all standards and disclosures requirements will be submitted to materiality assessment except those specified in the general disclosures
- Extension of the phasing in certain requirements, especially for smaller companies
- More disclosures are now voluntary
- Technical modifications to be coherent with EU legal framework
- Improvement in terms of interoperability with global standard settings (ISSB and GRI)
- Editorial changes to improve clarity and readability
Read ECIIA’s reaction.