Governance & Policy
European Sustainability Reporting Standards (ESRS)
Definition
The European Sustainability Reporting Standards are a set of reporting standards adopted by the European Commission as Delegated Regulation (EU) 2023/2772. They comprise two cross-cutting standards and ten topical standards covering environment, social and governance matters, and they define the disclosures companies must make under the Corporate Sustainability Reporting Directive.
References
Overview
What it means
ESRS are the rulebook: the CSRD creates the obligation, and the ESRS define the actual data points, from climate targets to workforce metrics.
How it is used
Preparers structure sustainability statements around ESRS disclosure requirements; assurance providers audit against them; software vendors map data to them.
Why it matters
ESRS operationalise double materiality in law and are becoming a de facto global reference for structured sustainability disclosure.