Questions & Answers
What are the ‘ESRS sectors’ mentioned under the ESRS 2 Disclosure Requirement SBM-1 in paragraph 40 (b)?
- Sector-breakdown
Background
ESRS 2 paragraph 40 states: ‘The undertaking shall disclose the following information about the key elements of its general strategy that relate to or affect sustainability matters: . . . (b) a breakdown of total revenue, as included in its financial statements, by significant ESRS sectors.’
ESRS 1 paragraph 137 states: ‘Appendix C List of phased-in Disclosure Requirements in this Standard sets phase-in provisions for the Disclosure Requirements or datapoints of Disclosure Requirements in ESRS that may be omitted or that are not applicable in the first year(s) of preparation of the sustainability statement under the ESRS.’
ESRS 1 Appendix C states: ‘The undertaking shall report the information prescribed by ESRS 2 SBM-1 paragraph 40 (b) (breakdown of total revenue by significant ESRS sector) and 40 (c) (list of additional significant ESRS sectors) starting from the application date specified in a Commission Delegated Act to be adopted pursuant to article 29b(1) third subparagraph point (ii), of Directive 2013/34/EU.’
The Accounting Directive Article 29b(1) third subparagraph point (ii) of Directive 2013/34/EU states: ‘In the delegated acts referred to in the first subparagraph the Commission shall, by 30 June 2024, specify: . . . (ii) information that undertakings are to report that is specific to the sector in which they operate.’
Answer
The ESRS Sectors will be defined in a future delegated act, following the issuance of a draft ESRS to be prepared by EFRAG.
As the European Commission has not adopted a delegated act specifying the list of ESRS sectors, undertakings are not required to disclose the information referred to in ESRS 2 paragraph 40 (b).
Relations
Paragraph | Content |
|---|---|
Appendix C - List of phased-in Disclosure Requirements | |
Appendix C - List of phased-in Disclosure Requirements | |
Appendix C - List of phased-in Disclosure Requirements | |
Appendix C List of phased-in Disclosure Requirements in this Standard sets phase-in provisions for the Disclosure Requirements or datapoints of Disclosure Requirements in ESRS that may be omitted or that are not applicable in the first year(s) of preparation of the sustainability statement under the ESRS. | |
The undertaking shall disclose the following information about the key elements of its general strategy that relate to or affect sustainability matters: | |
Appendix C List of phased-in Disclosure Requirements in this Standard sets phase-in provisions for the Disclosure Requirements or datapoints of Disclosure Requirements in ESRS that may be omitted or that are not applicable in the first year(s) of preparation of the sustainability statement under the ESRS. | |
The undertaking shall disclose the following information about the key elements of its general strategy that relate to or affect sustainability matters: | |
The undertaking shall disclose the following information about the key elements of its general strategy that relate to or affect sustainability matters: | |
Appendix C List of phased-in Disclosure Requirements in this Standard sets phase-in provisions for the Disclosure Requirements or datapoints of Disclosure Requirements in ESRS that may be omitted or that are not applicable in the first year(s) of preparation of the sustainability statement under the ESRS. |