EFRAG ESRS Q&A Platform: 64 new explanations available updating the compilation of explanations to a total of 157
EFRAG releases today its update to the Compilation of Explanations to respond to stakeholders' technical questions on the ESRS, which now includes a total of 157 explanations released between January and November 2024.
The Explanation ID 177 included in the Compilation presents the mapping of sustainability matters in AR 16 of ESRS 1 with the Disclosure Requirements in topical standards.
These responses are provided as part of EFRAG's role as a technical advisor to the European Commission and are expected to provide practical and timely support to preparers and others in the implementation of the ESRS. The Explanations released are grouped into chapters according to their nature (Cross-cutting, Environment, Social or Governance) and by Disclosure Requirements, following the ESRS architecture. To increase user-friendliness, the Compilation of Explanations also has hyperlinks to the text of the individual ESRS, including its Corrigendum.
The Compilation of Explanations is accompanied in Appendix III by a log of questions received that were categorised as 'already answered'. These 133 questions were answered by another explanation or implementation guidance.
EFRAG is considering to issue an additional limited number of Explanations in the course of December 2024. Subsequently, EFRAG will continue the preparation of new Explanations following its due process but plans to release new Explanations in 2025 only after the end of the 2024 sustainability reporting cycle.
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 in the implementation of the European Sustainability Reporting Standards (ESRS) issued as a Delegated Act.
Answers may take the form of Implementation Guidance, which is shared with the public and informed by its feedback before being finalised, or Explanations, which are not shared with the public for feedback. Implementation Guidance and Explanations are non-authoritative in nature; they are not issued as Delegated Acts and are final upon release by EFRAG.
Explanations cover cases in which the content of the ESRS already provides an appropriate answer. In these cases, the Explanations issued by EFRAG show where the content is in the ESRS and how to navigate the ESRS accordingly.
Since October 2023, EFRAG has received 777 questions through the Q&A platform thereof 182 were rejected for various reasons. Out of the remaining 595 questions 49 per cent are answered in the Compilation of Explanations either directly or by reference to an Implementation Guidance or to another Explanation published answering that same question.
The updated Compilation of Explanations document released today constitutes the set of formally approved answers to the questions categorised as 'Explanations' between January and November 2024.