ESRS standards have been submitted to the EC

Which companies will have to report according to ESRS standards?

According to the CSRD, all large companies (regardless of whether they are listed or private companies) will produce sustainability reports. These reports will be audited and will be an integral part of each company's annual report. We have included a short table to help you understand which companies and from when they will be subject to CSRD and ESRS in our previous article titled: Sustainability reports for 2024 already according to CSRD and ESRS standards.

When will the ESRS be in effect?

Reports for 2024, or those published in the first quarter of 2025, will have to be prepared according to the ESRS.

Will all these standards apply to any company regardless of type or sector of operation?

Yes. This first set of standards is mandatory for any company that falls under the CSRD, which is the obligation to prepare and publish a sustainability report regardless of the business sector.

Below are all the standards submitted by EFRAG to the European Commission on 23.11.2022:

• ESRS 1 General Requirements
• ESRS 2 General Disclosures

Topical standards: Environment

• ESRS E1 Climate change
• ESRS E2 Pollution
• ESRS E3 Water and marine resources
• ESRS E4 Biodiversity and ecosystems
• ESRS E5 Resource use and circular economy

Topical standards: Social

• ESRS S1 Own workforce
• ESRS S2 Workers in the value chain
• ESRS S3 Affected communities
• ESRS S4 Consumers and end-users

Topical standards: Governance

• ESRS G1 Business Conduct