EFRAG issues the set of Basis for conclusions for its first set of draft ESRS

On 22 November 2022, EFRAG delivered the first set of draft ESRS to the European Commission in its role as technical adviser. This first set, approved by the EFRAG SRB, with the support of the EFRAG SR TEG, reflects the input from the public consultation on the draft ESRS EDs.
EFRAG now issues the set of Basis for conclusions ('BfC') to supplement the draft ESRS. The BfC accompanies but is not part of the draft ESRS and, as such, its content has no authoritative status.
It illustrates the objective and context of the draft standards, the process followed in their preparation, the reasons to include in the standards a disclosure requirement, when relevant the alternative considered, the references to other standard-setting initiatives or European or other relevant regulations and, where appropriate, the argument supporting the need for granular guidance.
Access the BfC here.