On Friday 25 April, the European Financial Reporting Advisory Group (EFRAG) formally submitted its work plan to the European Commission, outlining the steps it will take to provide technical advice on the revision and simplification of the European Sustainability Reporting Standards (ESRS) (see EUROPE 13618/32).
The work plan sets out the key activities, deliverables and stakeholder engagement that EFRAG will undertake in order to meet the 31 October deadline. From April to mid-May, EFRAG will develop a vision on levers for substantial simplification, gather evidence from stakeholders and analyse published reports and other sources. From the second half of May to July, it will draft and approve exposure drafts amending the ESRS. In August and September, it will publish the exposure drafts and analyse feedback from stakeholders. Finally, the Group will finalise and deliver their technical advice to the European Commission.
For its part, on Monday 28 April, the International Sustainability Standards Board (ISSB) published an exposure draft proposing targeted amendments to IFRS S2, to facilitate the application of requirements relating to the reporting of greenhouse gas (GHG) emissions.
These proposed amendments are not intended to reduce the information to be provided on GHG emissions, but to make it easier for companies to apply the standards, while retaining the usefulness of the information provided to investors for the purposes of making decisions. The comment period closes on Friday 27 June.
See EFRAG’s work plan: https://aeur.eu/f/glj
See the amendments to IFRS S2: https://aeur.eu/f/glk (Original version in French by Anne Damiani)