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CSRD is known as the Gold Standard for sustainability reporting frameworks as it considerably enlarges the scope of companies that must disclose sustainability information and brings forward new requirements.
ESRS2 general, strategy, governance and materiality assessment disclosure requirements
Topical sector-agnostic standards*
Environment
Social
Governance
ESRS E1 Climate change
ESRS S1 Own workforce
ESRS G1 Business conduct
ESRS E2 Pollution
ESRS S2 Workers in the value chain
ESRS E3 Water and marine resources
ESRS S3 Affected communities
ESRS E4 Biodiversity and ecosystems
ESRS S4 Consumers and end-user
ESRS E5 Resources use and circular economy
*Already published
To be released in June 2024:
Sector-specific standards
Standards for small and medium sized entities (SMEs)
Standards for non-EU companies (reporting requirement third country companies)
Parameter
ESRS
GRI
Reporting
Mandatory
Voluntary
Comprehensiveness
More comprehensive than GRI (Includes topics like climate change, biodiversity, human rights, and fair employment)
Less comprehensive than ESRS
Regulation
Strictly regulated
Not regulated
EY teams support you to help establish your roadmap for ESG reporting readiness with the following:
Evaluate how well the business model and strategy comply with the shift to a sustainable economy under the Paris Climate Agreement Plan and help implement policies and due diligence process for the value chain.
EY teams can help identify ESGmaterial topics based on a stakeholder dialogue in accordance with the double materiality concept.
Perform an ESG risk and opportunities assessment, including risk appetite. Help integrate ESG risks to a company’s existing risk management process.
Help develop a net-zero strategy and carbon-reduction targets by leveraging climate scenario modelling tools.
Help identify roles and responsibilities of the governance bodies with regard to sustainability matters and risk management.
Help develop policies, targets action plans and resources for ESG material topics.
Help integrate ESG KPIs into a monitoring framework, including design methodology, definitions, data collection processes.
Support drafting of the ESG Integrated report.
Assess assurance readiness of data process flows and internal control activities so that your ESG information is assurance-ready.
Join the conversation with Mastek on its ESG strategy & execution in EY's 'Sustaining Sustainability' podcast. Be part of sustainable change. Listen now!
EY ESG Compass assists businesses evaluate, analyze, benchmark and communicate performance across E, S, and G aspects, helping in developing a tailored ESG strategy.