ESRS: The European standards for sustainability reporting

The European Financial Reporting Advisory Group (EFRAG), mandated by the European Commission, is working on a new European reporting system based on specific sustainability standards. The European Commission has also called on EFRAG to prioritize the identification of tools to support the implementation of the first set of standards precisely to help companies integrate CSRD (Learn more), the new EU sustainability reporting legislation, which was approved at the end of the year and will be implemented as of January 1, 2024.

Find out how it will be structured and what draft standards have been published so far!

CSRD Directive and Sustainability Reporting: what's new

New Corporate Sustainability Reporting Directive
On January 5, 2023, the Corporate Sustainability Reporting Directive (CSRD) came into effect, mandating new sustainability reporting requirements for Italian and European companies in accordance with the United Nations' sustainable development goals and the European Green Deal.

The objective of the CSRD is to bring sustainability reporting to a level of maturity equivalent to financial reporting and make non-financial information more transparent, comparable, and reliable.

But what is it, who will it address, and when will it become effective?

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