Chapter 4:
What is required under this framework
To show compliance with the ESRS, the standards you need to follow to report to the CSRD, companies must disclose information in relation to three categories:
1.
Cross-cutting standards:
Also known as ESRS 1 and ESRS 2, these standards showcase different guidelines related to an organisation’s impact, risks, and opportunities related to certain sustainability elements. ESRS 1 highlights the general requirements which organisations must follow to comply with the CSRD, while ESRS 2 outlines the general disclosures needed when reporting general standards, mandatory across all sectors.
2.
Topical standards:
There are ten topical standards under the ESRS which showcase all three ESG pillars. They are each further divided into subtopics to allow organisations to get more granular.
The 10 topical standards are as follows (click each box to find out more):
3.
Sector-specific standards:
These standards denote disclosures which are specific to a company’s sector. Coming into effect in 2027, organisations must report impacts, risks and opportunities related to their specific industry, outside of the topical standards mentioned above.