The contours of the EU sustainability reporting framework are rapidly becoming sharper and more precise. Last week, the European Parliament adopted the Corporate Sustainability Reporting Directive (CSRD). On 15 November, the European Financial Reporting Advisory Group (EFRAG) reached an agreement on the first set of draft European Sustainability Reporting Standards (ESRS) to be submitted to the European Commission (EC). The objective of the ESRS is to set out the general requirements that companies must comply with when preparing and presenting sustainability-related information under the Accounting Directive as amended by the CSRD.
