XBRL taxonomy for ESRS and EU taxonomy disclosures

On 8 February 2024, EFRAG published its drafts of the XBRL taxonomy for the sustainability report as well as for the disclosures under Article 8 of the EU Taxonomy Regulation and called for participation in the public consultation on these drafts.

The drafts on the XBRL taxonomy provides a proposal for the digital tagging of the sustainability report and for the disclosures under the EU Taxonomy Regulation by providing XBRL elements ("tags") for each data point and each dimensional breakdown defined in the ESRS disclosure requirements.

Once finalised, the taxonomy will be the basis for the European Securities and Markets Authority (ESMA) to develop draft regulatory technical standards (RTS) for sustainability reporting tagging. The tagging rules will eventually be adopted by the European Commission by way of a delegated act amending Commission Delegated Regulation (EU) 2019/815 on the European Single Electronic Format (hereinafter "ESEF Regulation").

Feedback on the drafts is to be submitted via separate online forms for ESRS and EU taxonomy information, which can be accessed via an EFRAG website.

The consultation period for both drafts runs until 8 April 2024.

Interested applicants and users can also register for a workshop to present the drafts of the XBRL ESRS taxonomy at EFRAG until 31 January 2024.

The press release is available on the EFRAG website.