The final proposals to narrow the ESRS E standards were presented to the EFRAG Sustainability Reporting Board (SRB) yesterday (12 October), which would narrow the water (ESRS E3) and circular economy (ESRS E5) standards to reduce the reporting burden for companies.
The proposal for ESRS E3 (water and marine resources) would keep it as a sector-agnostic standard but would ensure that reporting on policies, targets and action plans in this area would be subject to a materiality assessment.
DR E3-4 (water management performance) would be changed to focus on water consumption whilst marine resources-related performance would be moved to the sector-specific standards.
Similarly to ESRS E2 (pollution), quantitative reporting would be phased in for the financial effects of water and marine resources (DR E3-6).
The proposals for ESRS E5 (resource use and circular economy) would also ensure reporting on policies, targets and action plans in this area would be subject to a materiality assessment.
Quantitative reporting would also be phased in for the financial effects from resource use and circular economy (DR E5-6) would also be phased in.
The board will meet next week to make their final decision on the proposed changes to the various environmental standards.