EFRAG roadmap for new developments in ERS reporting

Luz Parrondo

Chapter 8 in Research Handbook on Financial Accounting, 2024, pp 138-155 from Edward Elgar Publishing

Abstract: The European Financial Reporting Advisory Group (EFRAG) has taken an active role in the development of improved Environmental, Social, and Governance (ESG) reporting standards in Europe. In line with the EU’s Sustainable Finance Action Plan, EFRAG has been working to develop a comprehensive ESG reporting framework that aims to enhance the quality, comparability, and relevance of ESG reporting, facilitating the integration of sustainability considerations into investment decision-making. EFRAG recognizes the importance of materiality in ESG reporting and has been developing a materiality assessment framework to help companies identify the ESG issues that are most relevant to their business and stakeholders. EFRAG also recognizes the need to integrate ESG reporting with financial reporting, improving the understanding of the impact of ESG issues on a company’s financial performance. EFRAG’s efforts also include the development of guidelines for data quality, an adequate quantity of ESG information, and ESG performance and disclosure consistency. Overall, EFRAG’s efforts are aimed at promoting sustainable business practices and investment decisions by improving the credibility and reliability of ESG reporting.

Keywords: Business and Management; Economics and Finance (search for similar items in EconPapers)
Date: 2024
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