{"id":18849,"date":"2024-05-22T11:31:28","date_gmt":"2024-05-22T09:31:28","guid":{"rendered":"https:\/\/www.red-on-line.com\/?p=18849"},"modified":"2025-07-31T15:32:01","modified_gmt":"2025-07-31T13:32:01","slug":"corrections-to-the-sustainability-reporting-standards-for-large-undertakings-published","status":"publish","type":"post","link":"https:\/\/www.red-on-line.com\/gb\/blog\/corrections-to-the-sustainability-reporting-standards-for-large-undertakings-published\/","title":{"rendered":"Corrections to the Sustainability reporting standards for large undertakings published"},"content":{"rendered":"<div class=\"strate alignfull\" style=\"background-position: 50% 50%\">\n<div class=\"centrage\">\n<p>The Delegated Regulation (EU) 2023\/2772 of 31 July 2023, published in the OJEU of 22 December 2023, supplemented Directive 2013\/34\/EU of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings as regards sustainability reporting standards (ESRS). Those new provisions apply from 1 January 2024 for financial years beginning on or after this date. A Corrigendum to Commission Delegated Regulation (EU) 2023\/2772 was finally published in the OJEU of 19 April 2024. This contains 80 corrections of the Annex I (European sustainability reporting standards (ESRS)) and Annex II (Acronyms and glossary of terms) of the Delegated Regulation.The corrections are notably the following: <\/p>\n<ul>\n<li>In the ESRS 1 \u2018General requirements\u2019, paragraph 91(a), the notion of \u201c\u201dpotential financial effects of the events\u201d\u201d should be replaced by \u201c\u201danticipated financial effects of the events\u201d\u201d<\/li>\n<li> In the ESRS 2 \u2018General disclosures\u2019, paragraph 53(c)(ii), the sentence \u201c\u201dhow the undertaking assesses the likelihood, magnitude, and nature of effects of the identified risk and opportunities (such as the qualitative or quantitative thresholds and other criteria used as prescribed by ESRS 1 section 3.3 Financial materiality)\u201d\u201d should be replaced by \u201c\u201dhow the undertaking assesses the likelihood, magnitude, and nature of effects of the identified risk and opportunities (such as the qualitative or quantitative thresholds and other criteria used as prescribed by ESRS 1 section 3.5 Financial materiality)\u201d\u201d<\/li>\n<li>In the ESRS E1 \u2018Climate change\u2019, Appendix A \u2018Application requirements\u2019, paragraph AR 33,instead of \u201c\u201dThe information required under paragraph 37 (a) is applicable if the undertaking is operating in at least one high climate impact sector\u201d\u201d, read \u201c\u201dThe information required under paragraph 38 is applicable if the undertaking is operating in at least one high climate impact sector\u201d\u201d<\/li>\n<li>In the ESRS S1 \u2018Own workforce\u2019, Table of contents, Appendix A.3, the titre \u201c\u201dAppendix A.3: Application Requirements for ESRS S1-4 Taking action on material impacts on own workforce, and approaches to mitigating material risks and pursuing material opportunities related to own workforce, and effectiveness of those actions\u201d\u201d should be replaced by \u201c\u201d\u2018Appendix A.3: Application Requirements for ESRS S1-4 \u2013 Taking action on material impacts on own workforce, and approaches to managing material risks and pursuing material opportunities related to own workforce, and effectiveness of those actions\u201d\u201d<\/li>\n<li>In the in ESRS S1 \u2018Own workforce\u2019, Appendix A.2, table, first column, ninth row, the expression \u201c\u201dGender equality and equal work for equal pay\u201d\u201d should be replaced by \u201c\u201dGender equality and equal pay for work of equal value\u201d\u201d\u2022 In the ESRS S4 \u2018Consumers and end-users\u2019, Appendix A \u2018Application requirements\u2019, paragraph AR 37(d), the sentence \u201c\u201dbusiness opportunities related to the undertaking\u2019s dependencies on consumers and\/or end-users may include the achievement of a loyal future consumer base by ensuring, for example, that LGBTQI people are respected and that the undertaking\u2019s selling practices do not exclude such people from the products or services it offers\u201d\u201d should be replaced by \u201c\u201dopportunities related to the undertaking\u2019s dependencies on consumers and\/or end-users may include the achievement of a loyal future consumer base by ensuring, for example, that LGBTQI people are respected and that the undertaking\u2019s selling practices do not exclude such people from the products or services it off.<\/li>\n<\/ul><\/div>\n<\/div>\n\n<span class=\"separator separator--center separator--gradient separator--md\"><\/span>\n\n\n<h4><span class=\"has-inline-color has-color-5-color\"><strong>EHS regulatory compliance and monitoring \u2013 an expert solution to ensure your organization\u2019s compliance <\/strong><\/span><\/h4>\n\n\n\n<p>Stay ahead of evolving HSE requirements across 300+ jurisdictions, with daily updates curated by our in-house legal experts.<\/p>\n\n\n<div class=\"bttn-align-center\"><a href=\"https:\/\/www.red-on-line.com\/gb\/solutions\/regulatory-compliance-and-monitoring\/\" target=\"_self\" class=\"bttn  bttn--md\"><span class=\"bttn__cont-label-icon\"><span class=\"bttn__label\">Discover Red-on-line\u2019s regulatory compliance and monitoring solution.<\/span><\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>The Delegated Regulation (EU) 2023\/2772 of 31 July 2023, published in the OJEU of 22 December 2023, supplemented Directive 2013\/34\/EU&hellip;<\/p>\n","protected":false},"author":27,"featured_media":18850,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[685],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Corrections to the Sustainability reporting standards for large undertakings published<\/title>\n<meta name=\"description\" content=\"The Delegated Regulation published a 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