Questions & Answers
Do undertakings need to include entity-specific disclosures for the first three years of reporting?
- Phase-in requirements
- entity-specific disclosures
Background
ESRS 1 paragraph 131 states: ‘When defining its entity-specific disclosures, the undertaking may adopt transitional measures for their preparation in the first three annual sustainability statements under which it may as a priority:
(a) introduce in its reporting those entity-specific disclosures that it reported in prior periods if these disclosures meet or are adapted to meet the qualitative characteristics of information referred to under Chapter 2 of this Standard; and
(b) complement its disclosures prepared on the basis of the topical ESRS with an appropriate set of additional disclosures to cover sustainability matters that are material for the undertaking in its sector(s), using available best practice and/or available frameworks or reporting standards, such as IFRS industry-based guidance and GRI Sector Standards.’
Answer
Yes, entity-specific disclosures are required for the first three years of reporting of sustainability information.
ESRS 1 paragraph 131 only gives a three-year transition period for the preparation of the entity-specific disclosures under which the undertaking may as a priority derive those measures from ESRS 1 paragraph (a) or (b). ESRS 1 paragraph 131 does not provide a phase-in for entity-specific provisions in general.
See also ESRS 1 Chapter 10.2 Transitional provision related to Chapter 5 value chain taking precedence.
Relations
Paragraph | Content |
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When defining its entity-specific disclosures, the undertaking may adopt transitional measures for their preparation in the first three annual sustainability statements under which it may as a priority: | |
When defining its entity-specific disclosures, the undertaking may adopt transitional measures for their preparation in the first three annual sustainability statements under which it may as a priority: | |
When defining its entity-specific disclosures, the undertaking may adopt transitional measures for their preparation in the first three annual sustainability statements under which it may as a priority: |