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ESRS for Non-EU Groups: Access the EU Webinar Recording and Slides

Discover the latest on ESRS for Non-EU Groups and their implications for global companies

Access the recording and slides to stay informed on upcoming reporting standards


  • Recording and slides from the November 2024 webinar are now available.

  • Learn about the legal framework and the path to implementation.

  • Understand the impact on non-EU companies starting in 2028.


In November 2024, EFRAG and the European Commission hosted a webinar to outline the legal framework and standard-setting approach for European Sustainability Reporting Standards (ESRS) tailored to non-EU groups. This initiative, presented on 19 and 20 November, provided key insights into the regulatory landscape and reporting requirements for global companies operating in the EU.


The ESRS for non-EU groups is a pivotal step for fostering transparency and sustainability accountability among non-EU companies with significant economic ties to the European market. Stakeholders engaged in discussions to understand how these requirements align with the Corporate Sustainability Reporting Directive (CSRD).


 

Reporting Scope and Timelines

Starting with the financial year 2028, non-EU companies generating more than EUR 150 million annually in the EU will need to report sustainability impacts at the group level. This applies to entities with a branch in the EU exceeding EUR 40 million turnover or a subsidiary that qualifies as a large company or listed SME. The initial sustainability reports are due in 2029, aligning with standards known as ESRS for Non-EU Groups (NESRS).

 

During the webinar, the collaborative efforts of EFRAG and the European Commission were highlighted. "These standards mark a significant step toward harmonizing global sustainability reporting practices," a spokesperson emphasized, "ensuring transparency and coherence across international operations."


Attendees received a comprehensive breakdown of the NESRS framework, which will streamline sustainability reporting for non-EU entities while promoting consistent disclosure practices.


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