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These draft reporting standards are designed to underpin the final consolidated text of the EU’s Corporate Sustainability Reporting Directive, or ‘CSRD’, which was adopted in June 2022.
Consistent and decision-useful disclosures across both narrative reporting and financial statements by undertakings reporting under these ESRSs and the CSRD are paramount for users of sustainability (and especially climate) disclosures to be able to conduct a straightforward and efficient assessment of the credibility of undertakings’ transition plans.
In our response to the EFRAG consultation surveys, we have concentrated our review on ESRS 1 – General Principles, ESRS 2 – General, Strategy, Governance and Materiality Assessment, ESRS E1 - Climate change, and ESRS E5 – Resource Use and Circular economy.