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CSRD/ESRS
CSRD Regulation Benchmark and Assurance

The European Unions ESRS standards are unquestionably the most far-reaching set of sustainability standards in the World and require companies to disclose their impact on a wide range of environmental metrics including the reporting of Scope 3 GHG emissions.

You can explore and download the various standards here in our easy-to-navigate document repository.

Cross-cutting
Standards

Topical
Standards

Environmental ESRS E1 Climate Change
Environmental ESRS E2 Pollution
Social ESRS S1 Own Workforce
General Requirements ESRS 1 General Requirements
Environmental ESRS S2 Workers in the Value Chain
Environmental ESRS E3 Water and Marine Resources
Governance ESRS G1 Business Conduct
Environmental ESRS S3 Affected Communities
General Requirements  ESRS 2 General Disclosures

Environmental

ESRS E

General

Requirements

ESRS S

Social

ESRS G

Governance

Environmental ESRS E4 Biodiversity and Ecosystem
Environmental ESRS S4 Consumers and end-users
Environmental ESRS E5 Resource use and circular economy

The ESRS Standards will apply to roughly 50,000 companies reporting in the EU.

2026

Listed SMEs including non-EU listed SMEs**

2025

Other large companies including non-EU listed companies

2024*

Large listed companies, large banks and large insurance companies exceeding 500 employees

CSRD Regulation Scope 3 Benchmark and Assurance

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* For example, "2024" in our timeline means that these companies will need to make their first submission in 2025 covering the 2024 financial reporting year

** Additionally, non-EU companies with turnover above EUR 150 m per year in the EU and that have in the EU either a branch with turnover exceeding EUR 40 m or a subsidiary that is a large company or a listed SME will have to report on the sustainability impacts at the group level of that non-EU company: Reporting in 2029 on 2028 data.

Financed Emissions

The Partnership for Carbon Accounting Financials (PCAF) is a financial industry-led initiative. PCAF helps financial institutions assess and disclose the greenhouse gas (GHG) emissions from their loans and investments through GHG accounting. Measuring financed emissions allows financial institutions to make transparent climate disclosures on their GHG emissions exposure, identify climate-related transition risks and opportunities, and set the baseline emissions for target setting in alignment with the Paris Agreement. Widely tested by banks and investors, these methods assist in the measurement and disclosure of GHG emissions associated with seven asset classes.

US SEC

The Securities and Exchange Commission (“Commission”) is adopting amendments to its rules under the Securities Act of 1933 (“Securities Act”) and Securities Exchange Act of 1934 (“Exchange Act”) that will require registrants to provide certain climaterelated information in their registration statements and annual reports. The final rules will require information about a registrant’s climate-related risks that have materially impacted, or are reasonably likely to have a material impact on, its business strategy, results of operations, or financial condition. In addition, under the final rules, certain disclosures related to severe weather events and other natural conditions will be required in a registrant’s audited financial statements.

The Enhancement and Standardization of Climate-Related Disclosures for Investors
California State
The California Global Warming Solutions Act of 2006

The California Global Warming Solutions Act of 2006 requires the State Air Resources Board to adopt regulations to require the reporting and verification of statewide greenhouse gas emissions and to monitor and enforce compliance with the act.

This bill would require the state board, on or before January 1, 2025, to develop and adopt regulations requiring specified partnerships, corporations, limited liability companies, and other business entities with total annual revenues in excess of $1,000,000,000 and that do business in California, defined as “reporting entities,” to publicly disclose to the emissions reporting organization, as defined, and obtain an assurance engagement on, starting in 2026 on a date to be determined by the state board, and annually thereafter, their scope 1 and scope 2 greenhouse gas emissions, as defined, and, starting in 2027 and annually thereafter, their scope 3 greenhouse gas emissions, as defined, from the reporting entity’s prior fiscal year, as provided.

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