EFRAG’s ESRS Data Points
The European Sustainability Reporting Standards (ESRS) are on the horizon and businesses affected by these new rules are actively getting ready for compliance. The European Financial Reporting Advisory Group (EFRAG) released a draft list of data points for ESRS last Wednesday as part of their broader effort to support implementation. These efforts include providing non-authoritative guidance and materials to facilitate the application of sector-agnostic ESRS, which were officially adopted in July of this year.
The draft list of ESRS data points serves as a comprehensive catalog of all disclosure requirements within the sector-agnostic standards. For businesses that are already reporting their Environmental, Social, and Governance (ESG) data, this list serves as an essential tool for conducting a gap analysis on what data they might be missing to comply with the ESRS. It is equally beneficial for businesses who are new to the regulation by offering a structured framework to organize their data.
ESRS standards are designed to structure the specific disclosure objectives, called Disclosure Requirements (DRs), into separate data points. Since the purpose of the ESRS is to allow comparability of sustainability data across different companies, the data points are meant to be “conceptually separable” so that they can be used independently to fit the specific context of each company. These data points are presented as separate items within each DR in the recently drafted list. You can access the list in Excel here.
