European Sustainability Reporting Standards 1 and 2

Transparent and consistent sustainability reporting

Over the last two decades, reporting standards and frameworks have been developed to enable organisations to provide sustainability-related information transparently and consistently. These sets of indicators define the key elements of sustainability reporting, including how sustainability-related information should be collected and presented.

A new era of sustainability reporting in the EU

Under the Corporate Sustainability Reporting Directive (CSRD), companies will soon have to report on various environmental, social and governance matters. The European Sustainability Reporting Standards specify the detailed reporting requirements as set out by CSRD.

Intricacies of ESRS 1 & 2 explained

You’ll review the mandatory European Sustainability Reporting Standards (ESRS). Additionally, you’ll take a deeper look into ESRS 1 and ESRS 2, the cross-cutting standards applicable to all reporting entities that provide the basis for applying other standards or for making entity-specific disclosures.

The European Sustainability Reporting Standards 1 and 2 learning path includes the following modules:

• ESRS 1 – General requirements
• ESRS 2 – General disclosures

Note: Additional courses covering the European Sustainability Reporting Standards will be released periodically, resulting in more learning options.

Who Will Benefit

• Accounting professionals who provide advisory services (including ESG matters) for clients and need to advise B&I clients on how to set up procedures to scope, identify, record and manage their sustainability strategy goals
• Accounting professionals who provide assurance services that may include sustainability information or data
• Accounting and finance professionals who prepare corporate reports, including sustainability-related financial information
• Accounting and finance professionals who recognize it is crucial to understand how to implement processes that help produce sustainability data or provide advisory services over sustainability strategies because they have a key role to play in driving sustainable strategic and operational decisions based upon data produced

Key Topics

• CSRD
• ESRS
• ESG and sustainability
• Disclosures
• Financial and impact materiality, double materiality
• Sector-agnostic and sector-specific standards
• Scenario analysis

Learning Objectives

• Identify the objectives of ESRS 1.
• Identify the required qualitative characteristics of information reported under the ESRS.
• Select sustainability matters for the double materiality assessment.
• Select the stakeholders to engage with during the double materiality assessment.
• Choose the steps of the sustainability due diligence process.
• Determine the time horizons under the ESRS.
• Determine the general requirements for preparing and presenting sustainability information under the ESRS.
• Distinguish between the reporting requirements in ESRS 2 and the topical ESRS.
• Differentiate between mandatory and voluntary disclosure requirements.
• Select the appropriate approach to using estimates.
• Determine the information to be disclosed related to the double materiality assessment.
• Choose the appropriate approach to disclosing policies, actions and targets.
• Select adequate ways of referring to information provided in other documents.

Terms

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