For in scope companies, disclosures may be required as early as the reporting period for the 2024 financial year.
By Paul A. Davies, Michael D. Green, and James Bee
On 22 December 2023, the Commission Delegated Regulation specifying the first set of European Sustainability Reporting Standards (ESRS) was published in the Official Journal of the European Union (EU).[1] The ESRS apply from 1 January 2024, for financial years beginning on or after that date.
The ESRS set out specific disclosure requirements for companies required to report under the Corporate Sustainability Reporting Directive (CSRD). The first set of sector-agnostic ESRS cover sustainability-related impacts, risks, and opportunities relating to a range of environmental, social, and governance issues, and will be followed by additional sector-specific standards over the coming years.[2]
