What is EFRAG?
EFRAG (European Financial Reporting Advisory Group) is an independent association founded in 2001 with the support of the European Commission to serve the public interest. Since 2022, EFRAG has also played a key role in developing the European Sustainability Reporting Standards (ESRS) under the Corporate Sustainability Reporting Directive (CSRD).
Its work is organized into two main areas:
- Financial Reporting Pillar: Influencing the development of IFRS standards from a European perspective and advising the European Commission on their endorsement.
- Sustainability Reporting Pillar: Developing and further developing the European Sustainability Reporting Standards (ESRS) and supporting their implementation.
What are the ESRS?
The European Sustainability Reporting Standards (ESRS) form the foundation of the new European sustainability reporting under the Corporate Sustainability Reporting Directive (CSRD). They ensure that companies disclose their sustainability strategies, risks and opportunities in a consistent, reliable and comparable way.
Friend of EFRAG
As a Friend of EFRAG in the Sustainability Reporting Pillar, we support the mission to create clear, practical standards that help companies promote transparency and make sustainable business measurable. Through this partnership, we are in direct exchange with the Sustainability Reporting Board and provide targeted feedback on key reporting topics. This allows us to help shape the further development of sustainability reporting in Europe, in dialogue with leading institutions, experts and companies.
