01/03/2024 - EFRAG releases second set of technical Explanations on ESRS

​EFRAG releases the second set of Explanations to respond to stakeholders' technical questions on the ESRS. These responses are provided as part of EFRAG's role as technical advisor to the European Commission and are expected to provide a practical and timely support for preparers and others in the implementation of ESRS.  The 12 Explanations released today are grouped in chapters according to their nature (cross-cutting, environment, social, and governance).

EFRAG will continue releasing Explanations following due process, including engagement of both EFRAG's Sustainability Reporting Board and Technical Expert Group in public discussions. To facilitate accessibility, EFRAG plans to issue collections of all Explanations as of the end of each quarter, split into groups based on their nature.

Background

In the fourth quarter of 2023, EFRAG launched its ESRS Q&A Platform to collect and answer technical questions, supporting preparers and other stakeholders with the implementation of the European Sustainability Reporting Standards (ESRS) issued as Delegated Act. 

Answers may take the form of Implementation Guidance, which is exposed to public feedback before being finalised, or Explanations, which are not exposed to public feedback. Implementation Guidance and Explanations are non-authoritative in nature; they are not issued as Delegated Acts, and they are final once released by EFRAG.  

Explanations cover cases in which the content of ESRS already provides an appropriate answer. In these cases, the Explanation issued by EFRAG shows where the content is provided in the ESRS and how to navigate the ESRS accordingly.  

Today's 12 released Explanations constitute the second set of formally approved answers to the questions categorised as Explanations. Click here to access the second set of Explanations.

The first set of Explanations is available here.