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EU Stirs the ESG Disclosure Pot With New EFRAG Proposal

May 3 2022 #assurance, #climate, #compliance, #environment, #esg, #investors, #social

From Tim Mohin’s newsletter – an overview of the just-released European Financial Reporting Advisory Group (EFRAG) first set of Draft European Sustainability Reporting Standards (ESRS). As Tim explained in their newsletter from last Friday, “these 13 new standards are intended to shape the new Corporate Sustainability Reporting Directive (CSRD), and will influence all European and non-European companies that do business in the EU.”

Tim also pointed out that there are now

“… three massive ESG disclosure proposals open simultaneously. The combined page count from the SEC, the ISSB, and EFRAG amounts to a whopping 1,041* pages!

U.S. SEC Proposed Rule on Climate-Related Disclosure

Comment Period Deadline: May 20, 2022
Page Count: 534*
Proposed Rule

ISSB Exposure Drafts

Comment Period Deadline: July 29, 2022
Page Count: 112
General Exposure Draft
Climate Exposure Draft

EFRAG Draft European Sustainability Reporting Standards

Comment Period Deadline: August 8, 2022
Page Count: 395
Exposure Drafts

Happy commenting!”

* Actually, the original 500+ page final SEC proposal was revised for Federal Register publication. The final final SEC proposal is a mere 491 pages and the total of the three documents is 998 pages. Members can view an annotated version of the final showing the changes from the original version here.

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The Editor

Lawrence Heim has been practicing in the field of ESG management for almost 40 years. He began his career as a legal assistant in the Environmental Practice of Vinson & Elkins working for a partner who is nationally recognized and an adjunct professor of environmental law at the University of Texas Law School. He moved into technical environmental consulting with ENSR Consulting & Engineering at the height of environmental regulatory development, working across a range of disciplines. He was one… View Profile

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