European Corporate Reporting Lab @ EFRAG
- Vincent Papa, Lina Lemessiou, Hocine Kebli
The European Corporate Reporting Lab @ EFRAG (European Lab) was established by EFRAG, following the call by the European Commission in its March 2018 Action Plan on Financing Sustainable Growth. The European Lab serves the European public interest and its objective is to stimulate innovation in the field of corporate reporting in Europe by identifying and sharing good reporting practices through:
Facilitating dialogue between reporting companies, users and other relevant stakeholders and organisations; and
- Documenting the content and outcomes of this dialogue in reports and other means, for making them available in the public domain.
European Lab Steering Group
The European Lab has a multi-stakeholder Steering Group (the European Lab SG) and under its direction, EFRAG establishes project task forces for specific projects (European Lab PTFs).
The European Lab SG is responsible for setting the agenda of the European Lab; appointing the members of the European Lab PTFs; monitoring project implementation; promoting outputs of the European Lab and mobilising networks; giving direction on external communication; and reviewing the progress of the European Lab activities.
European Lab PTFs
The European Lab PTFs are responsible for the operation of the projects of the European Lab, including planning, specific issues selection, conducting stakeholder consultative outreach activities, and the project reports and other deliverables, as decided by the PTFs. The PTFs operate under the European Lab PTFs Operating Guidelines.
The activities of the PTFs may include public consultation such as expert meetings, seminars, round table discussions, interviews, surveys and other activities to facilitate engagement and exchange with other stakeholders. The European Lab PTFs decide on the form of consultation and outreaches relevant and appropriate for the public.
Future agenda of the European Lab
On 18 July 2019 a public consultation was launched on the European Lab future agenda, requesting input to be provided by 30 September 2019. The consultation proposed future project topics and saught views on their prioritisation. It also saught input on any possible alternative project that would be more important and urgent for the European Lab to undertake than the projects proposed.
A roundtable event was hosted by EFRAG on 10 September 2019, for stakeholders to provide input and exchange views with European Lab SG members on the future agenda of the European Lab.
The results of the public agenda consultation were summarised in a feedback statement. A vast majority of respondents supported Project 2 on Reporting of non-financial risks and opportunities, and linkage to the business model as the next priority for the European Lab. The European Lab Steering Group will decide at a later stage on a third project for the European Lab, taking into account the results from the agenda consultation, lessons learned from the experience of the first two European Lab projects and recent developments in reporting practices.
Climate-related reporting project
The first project of the European Lab, currently in progress, is on climate-related reporting.
The members of the European Lab PTF on Climate-related Reporting (PTF-CRR) were appointed by the European Lab SG in February 2019.
The primary focus of the PTF-CRR was on identifying good reporting practices and assessing the level of maturity in the implementation of the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, while also taking into consideration the climate-related reporting elements of the EU Non-financial Reporting Directive and the related European Commission non-binding guidelines.
The project addressed two areas: a general review of climate-related disclosures, and an in-depth review of scenario analysis reporting.
As part of the process the PTF-CRR engaged in dialogue with interested stakeholders, with a view to get practical insights on good reporting practices.
The project resulted in a report on How to improve climate-related reporting - A summary of practices from Europe and beyond.
Conference on Fostering Innovation in Corporate Reporting
To mark the launch of the European Lab, a high-level conference on Fostering Innovation in Corporate Reporting took place in the afternoon of 5 March 2019 in Brussels. For more information, including a summary report and audio-visual materials, see the related meeting page.
14/02/2020 - Summary brochure on recent report: How to improve climate-related reporting – A summary of good practices from Europe and beyond
This summary brochure highlights key messages and findings of the recent report "How to improve climate-related practices -A summary of good practices from Europe and beyond"issued by the Project Task Force on Climate-related Reporting at the European Corporate Reporting Lab @ EFRAG. The report and its two supplement documents analyse reporting practices on climate-related disclosures and scenario analysis.
04/02/2020 - REMINDER | INVITATION - Launching event - 06/02/20 - Report of European Lab Project Task Force on Climate-related Reporting
The European Corporate Reporting Lab @EFRAG is pleased to invite you to the launching event of the European Lab Project Task Force on Climate-related Reporting report: How to Improve Climate-related Reporting - A Summary of Good Practices from Europe and Beyond, on this Thursday, 6 February.
Pascal Canfin, Chair EP Committee on the Environment, Public Health and Food Safety, will be the guest speaker.
The event will start at 16:00, please note the new venue: Ground floor reception room, 35 Square de Meeûs 1000 Brussels.
Register now at firstname.lastname@example.org.
17/01/2020 - Invitation for launching event -6/02/20 - Report of European Lab Project Task Force on Climate-related Reporting
The European Corporate Reporting Lab @EFRAG is pleased to invite you to the launching event of a report on Climate-related Reporting, on 6 February. Pascal Canfin, Chair EP Committee on the Environment, Public Health and Food Safety, will be the guest speaker. The event will start at 16:00 and take place at the EFRAG offices, register now at email@example.com.
23/10/2019 - The European Corporate Reporting Lab @EFRAG has published a feedback statement on its agenda consultation and announces its next project
The European Corporate Reporting Lab @EFRAG has published a feedback statement summarising the input received from the public consultation on the European Lab's future agenda. At its October meeting, the European Lab Steering Group considered the feedback received and decided that the European Lab's second project will be on Reporting of non-financial risks and opportunities, and linkage to the business model (i.e. Project 2 in the consultation).
23/10/2019 - Roundtable on the future agenda of the European Corporate Reporting Lab @EFRAG on 10 September 2019 - Summary Report
A summary report of the roundtable held by the European Corporate Reporting Lab @EFRAG (European Lab) on 10 September 2019 on its future agenda is now available.
30/08/2019 - Reminder – European Lab call for participation in dialogue on climate-related reporting
The European Lab Project Task Force on Climate-related Reporting (PTF-CRR) invites users, preparers and other experts to participate in a dialogue and share their practical insights on good reporting practices for climate-related disclosures by companies, that will be included in a public consultation paper to be issued in Q4 2019.
27/08/2019 - Programme for European Lab agenda consultation outreach event on 10 September 2019
The European Lab releases the programme for its agenda consultation outreach event. With an introduction from Alain Deckers, the round table discussions will be led by Arlene McCarthy, Elisabeth Gambert and Flavia Micilotta.
19/07/2019 - Participation in European Lab Dialogue on Climate-related Reporting
The European Lab PTF is planning to have a dialogue with users, preparers and other interested stakeholders to obtain practical insights on good practices to be reflected in a draft report on climate-related reporting to be issued in Q4 2019.
18/07/2019 - Contribute to the future agenda of the European Lab!
The European Corporate Reporting Lab @EFRAG (European Lab) is launching a public consultation on its future project topics and their respective priority and importance for Europe. You are invited to provide your input by 30 September 2019.
15/02/2019 - European Lab Project Task Force on Climate-related Reporting appointed
The European Lab Steering Group has appointed the Project Task Force for its first project on climate-related reporting.
16/01/2019 - Apply now to join the climate-related reporting task force
The European Reporting Lab@EFRAG is looking for members for its new Project Task Force on Climate-related Reporting. The deadline for applications is 26 January 2019.
19/12/2018 - European Reporting Lab@EFRAG seeks members
Call for candidates launched for members of the new Project Task Force on Climate-related Reporting. EFRAG is also gathering expressions of interest from those wishing to participate in future European Reporting Lab@EFRAG events.
15/11/2018 - European Lab Steering Group appointed
The EFRAG General Assembly has appointed the Steering Group for the new European Corporate Reporting Lab (the ‘European Lab@EFRAG’).
01/10/2018 - Reminder - Call for candidates - European Lab Steering Group
EFRAG is looking for candidates from a wide range of backgrounds for the Steering Group of the new European Corporate Reporting Lab (the European Lab). You can apply until 8 October.
13/09/2018 - Join the new European Corporate Reporting Lab at EFRAG
Call for candidates published for members of the European Lab Steering Group