CEN, CENELEC and EFRAG join forces to foster synergies in sustainability reporting
28/02/2024
- A Memorandum of Understanding enhances the commitment to develop maximum synergies between the different European Standards developed by EFRAG and by CEN and CENELEC in the field of sustainability reporting. The aim is to facilitate the implementation of sustainability reporting requirements for European businesses.
According to the European Sustainability Reporting Standard 2 (ESRS 2) ‘General Disclosures’, companies may disclose whether they rely on any European standards approved by the European Standardization System (ISO/IEC or CEN/CENELEC standards), as well as the extent to which data and processes used for sustainability reporting purposes have been verified by an external assurance provider and found to conform to the corresponding standard.
CEN, CENELEC and EFRAG will work together to contribute to ensure maximum consistency and coherence in the implementation of EU sustainability reporting legislation, in full respect of the EU’s new legislative framework established by the Corporate Sustainability Reporting Directive (CSRD) and the related ESRS.
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