PROPOSALS FO​​R A RELEVANT AND DYNAMIC EU SUSTAINABILITY REPORTING STANDARD-SETTING

​​​About the re​​port​​​​​

​​On 25 June 2020 the European Commission issued a request for technical advice mandating EFRAG to undertake preparatory work for the elaboration of possible EU non-financial reporting standards in a revised EU Non-Financial Reporting Directive.​​​​​

The work was carried out by the multistakeholder Project Task Force on preparatory work for the elaboration of possible EU non-financial reporting standards established by EFRAG (the ‘Task Force’) in line with the European Commission mandate. The project was operated within the European Corporate Reporting Lab @EFRAG.

The final report of the Task Force proposes a roadmap for t​he develop​ment of a comprehensive set of EU sustainability reporting standards.

This report is the outcome of the collective work of the Task Force. The Task Force also considered input from global initiatives, as well as feedback received from outreach events organised by EFRAG across the EU with a large number of panellists and wide participation from all EU horizons. The detailed report taken as a whole reflects a large consensus.

For more information on the project and its various stages see t​he dedicated EFRAG webpage.

A second report was submitted to the European Commission by EFRAG Board President Jean Paul Gauzès in response to an ad personam mandate​. In his report Jean-Paul Gauzès  proposes reforms to EFRAG’s governance structure and financing, to ensure that future EU sustainability reporting standards are developed using an inclusive and rigorous process. For the report of Jean-Paul Gauzès​ to the European Commission and more information on his ad personam mandate see the relevant EFRAG webpage​.

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Acces​​​s to th​e re​​port

The repo​rt of the Task Fo​rce and its appendices are published as a series of seven documents: (i) the main report, and (ii) six separate documents comprising the assessment reports of six streams operated within the Task Force for the detailed review of the status of non-financial information and sustainability reporting.​

​Main report​	​​	​​
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​​​​Proposals for a relevant and dynamic E​U sustainability reporting standard-setting	​	​
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​Stream assessment reports​	​
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​EU non-financial information requirements momentum and coherence​​	​Possible input from existing initiatives​	​​​Conceptual framework for non-financial information standard setting
​Stream A1 Assessment Report​	Stream A2 Assessment Report​	Stream A3 Assessment Report
(Appendix 4.1 to main report)	(Appendix 4.2 to main report)​	(Appendix 4.3​ to main report)
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​​Interconnection between financial and non-financial information​	​Focus on financial institutions	​​​Current non-financial reporting formats and practices​
​Stream A4 Assessment Report​	Stream A5 Assessment Report​	Stream A6 Assessment Report
(Appendix 4.4 to main report)	(Appendix 4.5 to main report)​	(Appendix 4.6 to main report)
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