EFRAG publishes XBRL taxonomy for ESRS and EU taxonomy disclosures

The XBRL taxonomy contains the requirements for the digital tagging of the sustainability report and disclosures under the EU Taxonomy Regulation by providing XBRL elements (so-called ‘tags’) for each data point and dimensional breakdown defined in the ESRS disclosure requirements.

The published taxonomy will be the basis for the European Securities and Markets Authority (ESMA) to develop draft regulatory technical standards (RTS) for labelling sustainability reporting. The rules for labelling will ultimately 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’). According to the government draft for the transposition of the CSRD into German law, companies are to publish their sustainability report digitally for the first time for financial years beginning after 31 December 2025.

The press release is available on the EFRAG website.