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First set of 12 Explanations<\/strong><\/p>\n\n\n\n EFRAG launched in 2023 the Q&A platform to facilitate meaningful dialogue with stakeholders, assisting them in the implementation process and fostering a better understanding of European Sustainability Reporting Standards (ESRS). EFRAG is providing answers to those questions in the form of Implementation Guidance, which is exposed to public feedback before being finalised, or Explanations, which are not exposed to public feedback.<\/p>\n\n\n\n Explanations address questions by clarifying information already provided in the ESRS, guiding companies on where to find specific details within the standards. The Explanations released are grouped in chapters according to their nature (cross-cutting, environment, social, governance). EFRAG intends to issue a collection of Explanations per quarter to facilitate accessibility.<\/p>\n\n\n\n Workshops for Draft ESRS SEC 1<\/strong><\/p>\n\n\n\n EFRAG will organise online workshops in February 2024 to gather stakeholder feedback for the classification system to distinguish between different economic activities, which would be used for the sector-specific ESRS. The Draft ESRS SEC 1 is based on the existing NACE Rev. 2-1 classification system (Nomenclature g\u00e9n\u00e9rale des Activit\u00e9s Economiques dans les Communaut\u00e9s Europ\u00e9ennes), categorising the NACE business activities by ESRS sectors based on common characteristics of sustainability impacts, risks and opportunities.<\/p>\n\n\n\n Interested parties are encouraged to participate by subscribing to EFRAG\u2019s Sector-Specific Communities and selecting the sector(s) of interest.<\/p>\n\n\n<\/span>\n\n\n Stay ahead of evolving HSE requirements across 300+ jurisdictions, with daily updates curated by our in-house legal experts.<\/p>\n\n\nEHS regulatory compliance and monitoring \u2013 an expert solution to ensure your organization\u2019s compliance <\/strong><\/span><\/h4>\n\n\n\n