8. August 2022
On 8 August 2022, the ASCG published its comments on the exposure drafts of European Sustainability Reporting Standards (ED ESRS). In addition to the two online surveys from EFRAG, the comments include a cover letter from the ASCG in which the main points of criticism are once again pointed out. In its statement, the ASCG addresses the following aspects, among others:
The appendix (to the online survey 1), which is also included in the comment, is necessary because a separate file was created with the answers to some questions due to the specified limitation of the length of the answers in the online survey (5,000 characters).
ASCG President Georg Lanfermann comments as follows: “The ASCG submission is the result of an intensive discussion of the ESRS exposure drafts and their preliminary versions in our Sustainability Reporting Technical Committee. We have succeeded in playing a formative role in shaping the German discussion on the ESRS.”
Background: With the publication of the ED ESRS, the ESRS consultation began on 29 April 2022 and ended on 8 August 2022. The submitted ED ESRS were developed by a Project Task Force (PTF-ESRS) established by EFRAG in accordance with the proposal for an EU Corporate Sustainability Reporting Directive (CSRD) of April 2021. The ESRS specify the reporting obligations on sustainability reporting included in the EU Accounting Directive. The final ESRS will be mandatory for approximately 15,000 companies in Germany. In the meantime, a political agreement on the CSRD was reached in the trilogue negotiations on 21 June 2022. A working version of the final CSRD was published on 30 June 2022.
Over the past months, the ASCG has repeatedly commented publicly on the ESRS consultation and the proposed ED ESRS. In June 2022, the ED ESRS were discussed at a joint EFRAG and ASCG outreach event. The ASCG provides an overview of both the ED ESRS and the CSRD in German.