ESRS 1 General Requirements

ESRS 1 is the bedrock of sustainability reporting, outlining fundamental concepts and principles that companies must follow when preparing their sustainability statements. From defining reporting areas to establishing drafting conventions, ESRS 1 sets the stage for transparent and informative disclosures.

• Categories of ESRS Standards: ESRS 1 clarifies the framework for structuring sustainability disclosures by delineating reporting areas and drafting conventions.
• Qualitative Characteristics: Upholding the essence of transparency and reliability, ESRS 1 emphasizes the qualitative characteristics of information, ensuring that disclosures are meaningful and pertinent.
• Double Materiality: A cornerstone of modern sustainability reporting, ESRS 1 introduces the concept of double materiality, necessitating companies to assess the impact of their activities on the external environment and the influence of external factors on their operations.
• Due Diligence: ESRS 1 underscores the importance of due diligence procedures, urging companies to conduct comprehensive assessments of their sustainability impacts, risks, and opportunities.
• Value Chain Transparency: Recognizing the interconnectedness of global supply chains, ESRS 1 mandates companies to provide exhaustive information on their value chains, fostering transparency and accountability.