13. June 2022

Over 500 participants at the ASCG/EFRAG Outreach Event

ASCG and EFRAG, in cooperation with ESMT Berlin, Center for Financial Reporting and Auditing (CFRA), Deutsches Aktieninstitut, econsense, GDV, IDW, Rat für Nachhaltige Entwicklung and WWF, held the outreach event “ESRS – European Sustainability Reporting Standards in Europe” on 10 June 2022.

The event took place at ESMT Berlin, in the historic building which formerly housed state council building of the East German government. In addition, there was the possibility of online participation via the application “Livestream”.

After the welcoming remarks of ESMT’s CFO Mr Georg Garlichs MD Dr Christian Meyer-Seitz, Head of Department III, Commercial and Economic Law, Federal Ministry of Justice, welcomed the participants and also addressed the current status of the CSRD negotiations between the EU Council, EU Parliament and EU Commission. He also emphasized the high importance of understandable, comprehensible sustainability disclosures by companies.

EFRAG President Jean-Paul Gauzès then gave a video message on the current status, challenges, next steps and EFRAG’s role in the development of European sustainability reporting standards. He highlighted the importance of internationally agreed standards and called for participation in the consultation process.

In the subsequent presentations, panel discussions and break-out sessions, participants at the event were able to exchange views on various topics related in particular to EFRAG’s draft European sustainability reporting standards. In total, over 500 participants were counted, of which 80 were on-site.

A more detailed report on the event will be published shortly. This will be of importance for further standard development in the context of the EFRAG Due Process.