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EFRAG, CDP Partnership to Drive EU ESRS Adoption

The environmental disclosure platform CDP has joined forces with the European Financial Reporting Advisory Group (EFRAG) to build capacity among companies globally to fulfil EU sustainability-focused regulatory requirements. CDP will align its disclosure system with the sector-agnostic European Sustainability Reporting Standards (ESRS), designed by EFRAG and adopted by the European Commission on 31 July, while EFRAG will provide its technical expertise, access and guidance. Additionally, CDP will offer webinars and guidance materials to inform companies that are required to report on ESRS data points through CDP. Patrick de Cambourg, Chair of the EFRAG Sustainability Reporting Board, said: “Only with robust environmental data can financial markets and other stakeholders identify businesses with credible plans to reduce their impacts so that they thrive in a zero-emissions, nature-positive future. [Our] collaboration with CDP will help to accelerate these standards’ market uptake, building capacity among EU and non-EU businesses alike to use them as regulation comes in.” 

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