The European Financial Reporting Advisory Group (EFRAG) has announced the release of 23 new Explanations, which will be added to its Compilation of Technical Explanations on the EFRAG ESRS Q&A Platform. This update brings the total number of explanations released between January to July 2024 to 93.
These explanations are part of EFRAG’s advisory role to the European Commission and are designed to offer practical and timely support for the implementation of the European Sustainability Reporting Standards (ESRS). The newly released Explanations are categorised into chapters based on their nature—Cross-cutting, Environment, Social, or Governance—and their Disclosure Requirements, aligned with the ESRS framework. To enhance usability, the Compilation now includes hyperlinks to the full text of the ESRS and its Corrigendum.
Additionally, the updated Compilation features an appendix with a log of questions categorised as ‘already asked/answered,’ which have been rejected due to being addressed elsewhere. This log provides references to the locations where these answers can be found.
EFRAG will continue to release Explanations following its due process, including contributions from EFRAG’s Sustainability Reporting Board and its Technical Expert Group during public discussions.
Launched in the fourth quarter of 2023, EFRAG’s ESRS Q&A Platform collects and answers technical questions to aid preparers and other stakeholders in implementing the ESRS, issued as a Delegated Act. Answers may take the form of Implementation Guidance, shared publicly and informed by feedback before finalisation, or Explanations, which are finalised upon release without public feedback. Both types of responses are non-authoritative and not issued as Delegated Acts.
The latest release of the Compilation of Explanations represents the officially approved answers to questions categorised as ‘explanations’ for the period of January-July 2024.
