Lingo

Corporate sustainability on your mind? Welcome to the land of abbreviations. 

The essentials:

Let’s make the CSRD lingo an ABC for you. 

Environmental, Social, and Governance

Corporate Social Responsibility

Sustainable Development Goals

Greenhouse Gas

Corporate Sustainability Reporting Directive

Double Materiality Assessment

 

European Sustainability Reporting Standards 

  • ESRS E1 – Climate change
  • ESRS E2 – Pollution
  • ESRS E3 –  Water and marine resources
  • ESRS E4 – Biodiversity and ecoystems
  • ESRS E5 – Resource use and circular economy
  • ESRS S1 – Own workforce
  • ESRS S2 – Workers in the value chain
  • ESRS S3 – Affected communities
  • ESRS S4 – Consumers and end-users
  • ESRS G1 – Business conduct

 

The pro’s:

Getting the hang of it? Now some abbreviations for the pro’s: 

European Financial Regulation Advisory Group

Global Reporting Initiative

Sustainability Accounting Standards Board

Carbon Disclosure Project

International Integrated Reporting Council

Non-Financial Reporting Directive, the forerunner of CSRD 

eXtensible Business Reporting Language: XBRL is a standard for the electronic communication of business and financial data. It allows data to be tagged in a machine-readable format, facilitating easier analysis and comparison.

International Financial Reporting Standards: IFRS are accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of financial statements. The ESRS standards require annual financial reports to be prepared in accordance with IFRS.

European Single Electronic Format: ESEF is a specific technical format based on XBRL for preparing annual financial reports. It aims to enhance transparency and accessibility of financial information by requiring issuers to tag their financial data in a machine-readable format. These standards are essential components of the regulatory framework aimed at improving the quality and comparability of financial reporting within the European Union.

Corporate Sustainability Due Diligence Directive