The International Centre for Sustainability Reporting and Governance (ICSRG) is a non-profit organization that shares information, ideas and insights on sustainability reporting and governance.
The International Centre for Sustainability Reporting and Governance (ICSRG) is a non-profit organization that shares information, ideas and insights on sustainability reporting and governance.
In its press release welcoming the adoption of the Delegated Act on the first set of ESRS the EFRAG stated that the SRB is happy to report excellent progress regarding the SME standards both for listed SMEs (LSME) and for other SMEs (VSME), the latter being for voluntary use. The LSME ESRS will provide a cap on the amount of information ESRS can require for value chain reporting: EFAA would prefer the cap to be that of the less burdensome VSME.
On 13 July 2023 EFRAG's Sustainability Reporting Technical Expert Group (SR TEG) discussed for the first time in a public session the first full draft of the VSME - see paper 04-02 and the session recording (last 2 hours) here - and an outline of its so called ‘building blocks approach’. The SR TEG plans to finalize the draft VSME in September 2023 and pass to the EFRAG SRB for it to approve the draft standards for public consultation (for 120 days) starting in late November 2023.
EFRAG is also making progress developing implementation guidance to support the first set of ESRS. Draft versions - subject to change - of its materiality assessment and value chain implementation guidance is publicly available on the webpage for the SRB’s next meeting (23 August 2023) here. Corporate Disclosures examine the draft guidance in this article. The guidance is likely to get approved for public consultation at this or the following meeting.
ICSRG is a non-profit organization that shares information, ideas and insights on sustainability reporting and governance
