EFRAG updates: how to prepare your company for the CSRD

Corporate sustainability reporting remains a focal point for the European Union. As we know, the CSRD and ESRS set a new benchmark for ESG disclosures.

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With the recent publication of the Addendum to IG3, which introduces technical adjustments to the ESRS data points list, EFRAG has released updates that directly impact CSRD reporting.

How do EFRAG updates affect the CSRD?

EFRAG, the body responsible for developing sustainability standards in Europe, frequently updates its guidance, including data points and tools for CSRD compliance. 

These updates are crucial as they define how companies structure and present their reports. Changes from EFRAG are essential to ensure reports are aligned and reliable.

What is the Addendum to IG3 and why is it important?

EFRAG introduced the IG3: ESRS data points list in May 2024 as a guide for preparing the first sustainability report. Based on feedback from users, the Addendum IG3 was created to refine this guidance.

The Addendum IG3 includes:

• Clarifications: some questions have been adjusted for simplicity. If you're unfamiliar with the content, check out our easy-to-read CSRD clarifications for humans document.
• Data points: several data points have been added, removed, or modified.
• Materiality analysis: reinforces that data points should only be reported if they are relevant and material to the company.

Committed to your sustainability success

At Dcycle, we understand how challenging it is to adapt to the CSRD, especially with these updates. That’s why we stay updated to provide you with the smartest solution.

Immediate Implementation of Changes

We are already incorporating the latest EFRAG updates into our product. This ensures your reports remain aligned. Our team also closely monitors future changes, such as the next full IG3 update planned for Spring 2025.

Why start now?

Time is critical to meet CSRD requirements. The directive involves data collection, materiality analysis, reporting, and multiple steps before the final report is ready.

EFRAG updates are a reminder that the CSRD is dynamic and evolving. Our commitment is to help you deliver CSRD reports that are credible, secure, and reliable.