{"id":185830,"date":"2024-05-31T06:30:00","date_gmt":"2024-05-31T05:30:00","guid":{"rendered":"https:\/\/datascientest.com\/en\/?p=185830"},"modified":"2024-05-29T12:15:56","modified_gmt":"2024-05-29T11:15:56","slug":"all-about-esrs","status":"publish","type":"post","link":"https:\/\/datascientest.com\/en\/all-about-esrs","title":{"rendered":"ESRS or European Sustainability Reporting Standards: what is it about?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"185830\" class=\"elementor elementor-185830\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1157d65 e-flex e-con-boxed e-con\" data-id=\"1157d65\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-72a6b42 elementor-widget elementor-widget-heading\" data-id=\"72a6b42\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 02-08-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">As of January 1st, 2024, the CSRD (Corporate Sustainability Reporting Directive) has been enforced. This European directive mandates that large corporations submit a report on sustainable development, which must adhere to the standardized European norms, specifically the ESRS (European Sustainability Reporting Standards). But what exactly are these standards? DataScientest offers clarity.<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-dd02625 e-flex e-con-boxed e-con\" data-id=\"dd02625\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-90568c4 elementor-widget elementor-widget-heading\" data-id=\"90568c4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">ESRS, standards adopted as part of the CSRD<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2525969 elementor-widget elementor-widget-heading\" data-id=\"2525969\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-medium\">ESRS and CSRD<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-42a96c2 elementor-widget elementor-widget-text-editor\" data-id=\"42a96c2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 02-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><span style=\"font-weight: 400;\">On July 31, 2023, the European Commission ratified the ESRS framework. This <\/span><b>collection of European standards was crafted by the EFRAG,<\/b> (<a href=\"https:\/\/www.efrag.org\/\">European Financial Reporting Advisory Group<\/a>), an autonomous entity comprising various stakeholders.<\/p><p><span style=\"font-weight: 400;\">The standard is essential under the CSRD framework. And rightfully so, as the directive obliges large corporations to furnish a report on non-financial matters. But <\/span><b>what non-financial information is required?<\/b><span style=\"font-weight: 400;\"> The European Sustainability Reporting Standards address this query by defining criteria pertaining to environmental, social, and governance (ESG) concerns.<\/span><\/p><p><span style=\"font-weight: 400;\">The ESRS aims to accomplish two goals: to signify a new phase in the shift towards a sustainable European economy, while also boosting transparency.<\/span><\/p><ul><li><b>Transparency:<\/b><span style=\"font-weight: 400;\"> the data in the non-financial report enables investors to comprehend the impact of the corporations in which they invest their funds. The same goes for consumers who are increasingly mindful of environmental issues. They opt to purchase from engaged companies (without resorting to greenwashing).<\/span><\/li><li><b>Sustainable development:<\/b><span style=\"font-weight: 400;\"> by relying on objective criteria, corporations can steer their strategies regarding environmental impact, governance, and societal consequences. Given that their actions influence their reputation, it&#8217;s in their best interest to act in an environmentally responsible manner.<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2d9f534 elementor-widget elementor-widget-text-editor\" data-id=\"2d9f534\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Useful to know<\/b><span style=\"font-weight: 400;\">: The ESRS is a standard designed to homogenize sustainability criteria across Europe. As such, it considers other international benchmarks, like the <a href=\"https:\/\/www.ifrs.org\/groups\/international-sustainability-standards-board\/\">International Sustainability Standards Board (ISSB)<\/a> and the <a href=\"https:\/\/www.globalreporting.org\/\">Global Reporting Initiative (GRI)<\/a>.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8d84797 elementor-widget elementor-widget-image\" data-id=\"8d84797\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 02-08-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"457\" src=\"https:\/\/datascientest.com\/en\/files\/2024\/05\/European-Sustainability-Reporting-Standards1.jpg\" class=\"attachment-full size-full wp-image-185836\" alt=\"\" srcset=\"https:\/\/datascientest.com\/en\/files\/2024\/05\/European-Sustainability-Reporting-Standards1.jpg 800w, https:\/\/datascientest.com\/en\/files\/2024\/05\/European-Sustainability-Reporting-Standards1-300x171.jpg 300w, https:\/\/datascientest.com\/en\/files\/2024\/05\/European-Sustainability-Reporting-Standards1-768x439.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-435ff80 elementor-align-center button-principal elementor-widget elementor-widget-button\" data-id=\"435ff80\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/datascientest.com\/en\/power-bi-training\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Discover how to comply with the ESRS<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0652099 elementor-widget elementor-widget-heading\" data-id=\"0652099\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-medium\">What Is Double Materiality?<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d17e518 elementor-widget elementor-widget-text-editor\" data-id=\"d17e518\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The ESRS framework incorporates the principle of double materiality, implying that<\/span><b> financial matters are indistinguishable from ESG issues.<\/b><\/p><p><span style=\"font-weight: 400;\">Each decision by an organization must be viewed in light of its environmental, societal, and governance impact, and vice versa.<\/span><\/p><p><span style=\"font-weight: 400;\">A sustainability issue is reportable only if it bears a financial consequence. Therefore, companies must determine what they consider appropriate to disclose or omit following a double materiality assessment.<\/span><\/p><p><span style=\"font-weight: 400;\">Nevertheless, within the &#8220;Climate Change&#8221; category, the company is obliged to provide this information. Failing to do so necessitates justification. This is particularly challenging as it&#8217;s hard to argue that its operations do not contribute to greenhouse gas emissions. Currently, the majority of human activities generate pollution. The focal point is essentially to show how the company is mitigating its environmental impact.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-bc75269 e-flex e-con-boxed e-con\" data-id=\"bc75269\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5b5ebef elementor-widget elementor-widget-heading\" data-id=\"5b5ebef\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">The Pillars of ESRS Standards<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e207635 elementor-widget elementor-widget-text-editor\" data-id=\"e207635\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The ESRS structure is founded on 3 primary categories of standards:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The cross-cutting standards: These must be included in the non-financial report.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The thematic standards: These cover environmental, social, and governance aspects.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The sector-specific standards: These are yet to be delineated by EFRAG (European Financial Reporting Advisory Group) and are anticipated to be unveiled by 2025.<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a6d07d6 elementor-widget elementor-widget-heading\" data-id=\"a6d07d6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-medium\">What Are Cross-Cutting Criteria?<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b65c500 elementor-widget elementor-widget-text-editor\" data-id=\"b65c500\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">These indicators furnish a snapshot of the company&#8217;s overall sustainable development performance.<\/span><\/p><p><span style=\"font-weight: 400;\">These are categorized into 2 subgroups:<\/span><\/p><ul><li><b>ESRS 1 \u2013 General Requirement<\/b><span style=\"font-weight: 400;\">: This consolidates the ESRS standards framework, editorial conventions, fundamental principles, and requirements for preparing the data.<\/span><\/li><li><b>ESRS 2 \u2013 General Information<\/b><span style=\"font-weight: 400;\">: This concerns publication requirements.<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d225dd7 elementor-widget elementor-widget-text-editor\" data-id=\"d225dd7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">For instance, a company can outline its strategic outlook on sustainable development and the specific targets established to enhance its ESG outcomes.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2000c0d elementor-widget elementor-widget-image\" data-id=\"2000c0d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"457\" src=\"https:\/\/datascientest.com\/en\/files\/2024\/05\/European-Sustainability-Reporting-Standards2.jpg\" class=\"attachment-full size-full wp-image-185837\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-66ab2d9 elementor-align-center button-principal elementor-widget elementor-widget-button\" data-id=\"66ab2d9\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/datascientest.com\/en\/power-bi-training\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Learn to comply with the ESRS<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ed2815a elementor-widget elementor-widget-heading\" data-id=\"ed2815a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-medium\">What Are the Environmental Criteria?<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-118f862 elementor-widget elementor-widget-text-editor\" data-id=\"118f862\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The European Sustainability Reporting Standards delineate 5 criteria:<\/span><\/p><ul><li><b>ESRS E1 \u2013 Climate Change<\/b><span style=\"font-weight: 400;\">: This pertains to illustrating the company\u2019s greenhouse gas emissions, its strategies for reduction, and adaptation to climate change.<\/span><\/li><li><b>ESRS E2 \u2013 Pollution<\/b><span style=\"font-weight: 400;\">: The company is required to describe its impact on air, water, and soil pollution, including the policies devised to manage them.<\/span><\/li><li><b>ESRS E3 \u2013 Marine and Hydric Resources<\/b><span style=\"font-weight: 400;\">: Again, the company must elucidate its impact and its strategies to mitigate negative effects on marine and hydric resources, including strategies such as reducing water consumption.<\/span><\/li><li><b>ESRS E4 \u2013 Biodiversity and Ecosystems<\/b><span style=\"font-weight: 400;\">: It needs to demonstrate how it either contributes to the deterioration or improvement of biodiversity.<\/span><\/li><li><b>ESRS E5 \u2013 Use of Resources and Circular Economy<\/b><span style=\"font-weight: 400;\">: The company is expected to show how it manages natural resources, whether through efficient and sustainable use, avoidance of depletion, or adopting eco-responsible sourcing policies, etc.<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9e7ee33 elementor-widget elementor-widget-heading\" data-id=\"9e7ee33\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-medium\">What Are the Social Criteria?<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-97f7d04 elementor-widget elementor-widget-text-editor\" data-id=\"97f7d04\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">These mainly deal with interactions with employees and are divided into 4 subcategories:<\/span><\/p><ul><li><b>ESRS S1 \u2013 Workforce in the Company<\/b><span style=\"font-weight: 400;\">: such as gender equality, inclusion of disabled workers, job security, fair wages, social dialogue, freedom of association, etc.<\/span><\/li><li><b>ESRS S2 \u2013 Workers in the Supply Chain<\/b><span style=\"font-weight: 400;\">: This involves how the company impacts its workers, for instance, through work\/life balance, health, and safety measures, etc.<\/span><\/li><li><b>ESRS S3 \u2013 Affected Communities<\/b><span style=\"font-weight: 400;\">: This addresses the impact of the company&#8217;s operations on certain community groups, particularly indigenous peoples.<\/span><\/li><li><b>ESRS S4 \u2013 Consumers and End Users<\/b><span style=\"font-weight: 400;\">: such as the protection of privacy and the use of personal data.<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f9d5560 elementor-widget elementor-widget-heading\" data-id=\"f9d5560\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-medium\">What About Governance?<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-707e5ce elementor-widget elementor-widget-text-editor\" data-id=\"707e5ce\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">It solely involves the <\/span><b>ESRS G1 (Business Conduct) criterion.<\/b><span style=\"font-weight: 400;\"> This encompasses internal control mechanisms, transparency, and the ethics of corporate practices (including anti-corruption measures).<\/span><\/p><p><span style=\"font-weight: 400;\">In this context, the company must disclose information about the composition of its board of directors, the roles and responsibilities of its directors, and the policies implemented to ensure greater transparency and integrity, among other things.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-97abebe e-flex e-con-boxed e-con\" data-id=\"97abebe\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-965cccc elementor-widget elementor-widget-heading\" data-id=\"965cccc\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Data Collection at the Core of ESRS<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3e02e36 elementor-widget elementor-widget-image\" data-id=\"3e02e36\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"457\" src=\"https:\/\/datascientest.com\/en\/files\/2024\/05\/European-Sustainability-Reporting-Standards3.jpg\" class=\"attachment-full size-full wp-image-185850\" alt=\"\" srcset=\"https:\/\/datascientest.com\/en\/files\/2024\/05\/European-Sustainability-Reporting-Standards3.jpg 800w, https:\/\/datascientest.com\/en\/files\/2024\/05\/European-Sustainability-Reporting-Standards3-300x171.jpg 300w, https:\/\/datascientest.com\/en\/files\/2024\/05\/European-Sustainability-Reporting-Standards3-768x439.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b749480 elementor-align-center button-principal elementor-widget elementor-widget-button\" data-id=\"b749480\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/datascientest.com\/en\/power-bi-training\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Master Power BI for ESRS<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1945d32 elementor-widget elementor-widget-text-editor\" data-id=\"1945d32\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Companies are increasingly required to be transparent with their investors and consumers. However, to fulfill these obligations, they must supply them with up-to-date and pertinent data.<\/span><\/p><p><span style=\"font-weight: 400;\">Between environmental, societal, and governance aspects, myriad data points must be gathered. They need collaborators skilled in processing all this information to craft their <\/span><b>non-financial report<\/b><span style=\"font-weight: 400;\">.<\/span><\/p><p><span style=\"font-weight: 400;\">Are you keen on supporting companies in this endeavor? <a href=\"https:\/\/datascientest.com\/en\/bootcamp-data-analyst\">Embark on a journey of data processing and analysis training<\/a> with <\/span><b>DataScientest<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e212afc elementor-widget elementor-widget-html\" data-id=\"e212afc\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<script type=\"application\/ld+json\">\r\n{\r\n  \"@context\": \"https:\/\/schema.org\",\r\n  \"@type\": \"FAQPage\",\r\n  \"mainEntity\": [{\r\n    \"@type\": \"Question\",\r\n    \"name\": \"ESRS and CSRD\",\r\n    \"acceptedAnswer\": {\r\n      \"@type\": \"Answer\",\r\n      \"text\": \"On July 31, 2023, the European Commission ratified the ESRS framework. 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Between environmental, societal, and governance aspects, myriad data points must be gathered. They need collaborators skilled in processing all this information to craft their non-financial report.\"\r\n    }\r\n  }]\r\n}\r\n<\/script>\r\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>As of January 1st, 2024, the CSRD (Corporate Sustainability Reporting Directive) has been enforced. This European directive mandates that large corporations submit a report on sustainable development, which must adhere to the standardized European norms, specifically the ESRS (European Sustainability Reporting Standards). But what exactly are these standards? DataScientest offers clarity. ESRS, standards adopted as [&hellip;]<\/p>\n","protected":false},"author":45,"featured_media":185832,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_theme","format":"standard","meta":{"content-type":"","inline_featured_image":false},"categories":[2420],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.7 (Yoast SEO v21.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ESRS or European Sustainability Reporting Standards: what is it about?<\/title>\n<meta name=\"description\" content=\"The ESRS provides standardized European-level standards for the construction of non-financial reports. What are they? Find out the answer.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/datascientest.com\/en\/all-about-esrs\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ESRS or European Sustainability Reporting Standards: what is it about?\" \/>\n<meta property=\"og:description\" content=\"As of January 1st, 2024, the CSRD (Corporate Sustainability Reporting Directive) has been enforced. This European directive mandates that large\" \/>\n<meta property=\"og:url\" content=\"https:\/\/datascientest.com\/en\/all-about-esrs\" \/>\n<meta property=\"og:site_name\" content=\"Data Science Courses | DataScientest\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DataScientestEN\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-31T05:30:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-29T11:15:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/datascientest.com\/en\/files\/2024\/05\/esrs_datascientest.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Daniel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DataScientest__\" \/>\n<meta name=\"twitter:site\" content=\"@DataScientest__\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Daniel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/datascientest.com\/en\/all-about-esrs#article\",\"isPartOf\":{\"@id\":\"https:\/\/datascientest.com\/en\/all-about-esrs\"},\"author\":{\"name\":\"Daniel\",\"@id\":\"https:\/\/datascientest.com\/en\/#\/schema\/person\/5a86e30c5090234fb43dd8baa83c44b0\"},\"headline\":\"ESRS or European Sustainability Reporting Standards: what is it about?\",\"datePublished\":\"2024-05-31T05:30:00+00:00\",\"dateModified\":\"2024-05-29T11:15:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/datascientest.com\/en\/all-about-esrs\"},\"wordCount\":963,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/datascientest.com\/en\/#organization\"},\"articleSection\":[\"Business Intelligence\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/datascientest.com\/en\/all-about-esrs#respond\"]}],\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/datascientest.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/datascientest.com\/en\/all-about-esrs\",\"url\":\"https:\/\/datascientest.com\/en\/all-about-esrs\",\"name\":\"ESRS or European Sustainability Reporting Standards: what is it about?\",\"isPartOf\":{\"@id\":\"https:\/\/datascientest.com\/en\/#website\"},\"datePublished\":\"2024-05-31T05:30:00+00:00\",\"dateModified\":\"2024-05-29T11:15:56+00:00\",\"description\":\"The ESRS provides standardized European-level standards for the construction of non-financial reports. 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