ROSE Sustainability Updates

Hi, summer is approaching but EFRAG doesn't stop working! Among other things, in this newsletter you can find the recently approved (and final) versions of the three Implementation Guidances on CSRD, which we believe will be quite helpful for many companies preparing their first CSRD report.?

In this update, you can expect:

• Materiality Assessment, Datapoints, Value Chain Guidances approved
• EFRAG-ISSB Interoperability Guidance?
• UK Sustainability Reporting Standards (UK SRS)

?? EFRAG approved the three Double Materiality, Value Chain and Datapoints Implementation Guidances (IGs)

After the open public feedback and revision period on May the 31st EFRAG finalized and approved the three IGs (final files!):?

• EFRAG IG 1: Materiality Assessment: focuses on DMA and develops?the concept of impact and financial materiality with a number of examples, including FAQs.
• EFRAG IG 2: Value Chain: outlines the reporting requirements for the value chain from materiality assessment to policies and actions to metrics and targets.
• EFRAG IG 3: Detailed ESRS Datapoints?and Accompanying?Explanatory Note translates the ESRS disclosure requirements in an excel list that can form the basis for a data gap analysis or data collection exercise.

?? EFRAG-ISSB Interoperability Guidance?

EFRAG and the IFRS Foundation have published guidance material, the "ESRS–ISSB Interoperability Guidance" describing how a company can apply both sets of standards.

?? In a nutshell: since the IFRS S1 and S2 standards cover climate change only,? this document contains a mapping between the climate change disclosures required by ESRS vs IFRS?

???? UK Sustainability Reporting Standards (UK SRS).

The UK government announced the following timeline for the UK Sustainability Reporting Standards (UK SRS):

• The standards will be based on IFRS S1&S2 (Climate related disclosure)
• UK government aims to make endorsement decisions on the first two standards by Q1 2025
• The obligation will apply to UK-listed companies first, but more companies might be in scope later

That’s a wrap, we will be in touch again with our next update!

The ROSE Team