The IFRS Foundation and the European Financial Reporting Advisory Group (EFRAG) have jointly published the ESRS-ISSB standards interoperability guidance. This document demonstrates the strong alignment between the sustainability reporting standards issued by the International Sustainability Standards Board (ISSB) and the European Sustainability Reporting Standards (ESRS). As both sets of standards are expected to underpin mandatory sustainability reporting for thousands of companies, the guidance aims to simplify compliance by reducing complexity and duplication. By harmonizing reporting requirements, companies can efficiently collect and manage decision-useful data. The guidance covers materiality, presentation, and disclosures, including climate-related reporting alignment. It facilitates companies’ ability to comply with both sets of standards effectively.

Source: esgtoday.com