European Sustainability Reporting Standards (ESRS)
Standards adopted by the European Commission in July 2023 that set the content of the sustainability report required by the CSRD.
The CSRD requires companies in scope to publish a sustainability report, but does not say what it contains: the ESRS, prepared by EFRAG and adopted by delegated act, do that. They comprise two cross-cutting standards and ten topical standards, covering climate, pollution, water, biodiversity, circular economy, own workforce, value chain workers, communities, consumers and business conduct. Their key is double materiality analysis: each topic is reported only if it is material to the company or through its impacts. For an insurer, they apply to its own report, including emissions associated with its portfolios. The 2025 Omnibus package launched their simplification.
The European Commission adopted on July 31, 2023 the delegated act containing the first twelve ESRS standards, under Directive (EU) 2022/2464 of December 2022.
Follow the research
One letter a week. First, the week's underwriting note, when one is published: a dated, argued decision, signed by Paul Bernardski. Then what the observatory published on cyber risk, political risk and insurance. No account, no tracking.
No spam, one-click unsubscribe, no data ever sold.