Update on Sector-specific ESRS Standards

EFRAG has started working on a program that will lead to the issuance of approximately 40 Sector-specific ESRS Standards

The primary focus will be addressing high-impact sectors first.

Given the importance of financial institutions and their role in sustainable finance, these sectors will also be developed in parallel.

EFRAG will put in consultation in 2024 the general approach to sector ESRS and the ESRS Sector classification approach.

The general idea discussed is that companies will have to apply a sector standard for activities that:

(a) generate revenues above 10 per cent of the revenues of all their activities; or

(b) for activities that are connected with material actual or potential negative impacts.

The application of these requirements may result in companies having to apply more than one sector standard.

During a meeting on January 15, EFRAG discussed a draft list of ESRS sectors:

  • Agriculture, Farming and Fishing
  • Forestry
  • Construction and Engineering
  • Power Production and Energy Utilities distribution
  • Water and Waste Services
  • Gaming
  • Recreation and Leisure
  • Capital Markets
  • Credit Institutions
  • Insurance
  • Health Care and Services
  • Accommodations
  • Food and Beverage Services
  • Construction Materials
  • Chemical Products
  • Construction and Furnishing
  • Defence
  • Electronics and electrical equipment
  • Food and Beverages
  • Machinery and Equipment
  • Medical Instruments
  • Metal Processing
  • Motor Vehicles
  • Paper and Wood Products
  • Pharma and Biotechnology
  • Sporting Equipment and Toys
  • Textiles, Accessories, Footwear and Jewelleries
  • Tobacco
  • Mining, Quarrying and Coal
  • Oil and Gas
  • Real Estate and Services
  • Sales and Trade
  • Education
  • Marketing
  • Professional Services
  • Information Technology
  • Media and Communication
  • Other Transportation
  • Road Transport

Source: EFRAG

Posted in CSRD, ESRS.