The first topical standard of the European Sustainability Reporting Standards (ESRS) is Climate Change. It is expected that most, if not all reporting companies will disclose information related to Climate Change based on this standard. According to Chapter 3.2 of ESRS 1 on Material matters and materiality of information, if a reporting company decides that climate change is not material and therefore do not disclose information required under the Climate Change topical standard, the company must provide a detailed explanation of the conclusions of its materiality assessment regarding climate change. Thus, most companies are expected to find Climate Change as a material topic in their assessment.
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CSRD's ESRS E1 Climate Change
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The first topical standard of the European Sustainability Reporting Standards (ESRS) is Climate Change. It is expected that most, if not all reporting companies will disclose information related to Climate Change based on this standard. According to Chapter 3.2 of ESRS 1 on Material matters and materiality of information, if a reporting company decides that climate change is not material and therefore do not disclose information required under the Climate Change topical standard, the company must provide a detailed explanation of the conclusions of its materiality assessment regarding climate change. Thus, most companies are expected to find Climate Change as a material topic in their assessment.