If you enable European Sustainability Reporting Standards (ESRS) in Sustainability Explorer, it includes content from the EU's Official Journal as of April 2024, which replaced content previously updated December 2023. While the April 2024 update includes only minimal changes to verbiage, you may want to review the differences to determine the impact to any Program metrics aligned to the content of December 2023.
Note: By default, any metrics aligned to the ESRS as Related Explorer content still retain their references from December 2023 to April 2024.
Cross-cutting standards
The April 2024 update includes a change to ESRS 2: General disclosures.
| ESRS content | December 2023 verbiage | April 2024 verbiage | Data point |
|---|---|---|---|
| 2-IRO-1: disclosure requirement IRO-1, 53(c)-ii | "how the undertaking has considered the connections of its impacts and dependencies with the risks and opportunities that may arise from those impacts and dependencies;" | "how the undertaking assesses the likelihood, magnitude, and nature of effects of the identified risk and opportunities (such as the qualitative or quantitative thresholds and other criteria used as prescribed by ESRS 1 section 3.5 Financial materiality);" | Qualitative |
Topical standards
The April 2024 update includes changes to the Environment and Social topical standards.
| ESRS content | December 2023 verbiage | April 2024 verbiage | Data point |
|---|---|---|---|
| E1-1, application requirement (AR) 5 | "When disclosing the information required under paragraph 16 (f), the undertaking shall state whether or not it is excluded from the EU Paris-aligned Benchmarks in accordance with the exclusion criteria stated in Articles 12.1 (d) to (g)(46)and 12.2 of Commission Delegated Regulation (EU) 2020/1818 (Climate Benchmark Standards Regulation)(47)." | "When disclosing the information required under paragraph 16 (g), the undertaking shall state whether or not it is excluded from the EU Paris-aligned Benchmarks in accordance with the exclusion criteria stated in Articles 12.1 (d) to (g)(46)and 12.2 of Commission Delegated Regulation (EU) 2020/1818 (Climate Benchmark Standards Regulation)(47)." | None |
| E1-2, AR 17 | "Policies related to climate change mitigation address the management of the undertaking’s GHG emissions, GHG removals and transition risks over different time horizons, in its own operations and/or in the upstream and downstream value chain. The requirement under paragraph 14 may relate to stand-alone climate change mitigation policies as well as relevant policies on other matters that indirectly support climate change mitigation including training policies, procurement or supply chain policies, investment policies or product development policies." | "Policies related to climate change mitigation address the management of the undertaking’s GHG emissions, GHG removals and transition risks over different time horizons, in its own operations and/or in the upstream and downstream value chain. The requirement under paragraph 22 may relate to stand-alone climate change mitigation policies as well as relevant policies on other matters that indirectly support climate change mitigation including training policies, procurement or supply chain policies, investment policies or product development policies." | None |
| E1-5, AR 33 | "The information required under paragraph 37 (a) is applicable if the undertaking is operating in at least one high climate impact sector. The information required under paragraph 38 (a) to (e). shall also include energy from fossil sources consumed in operations that are not in high climate impact sectors." | "The information required under paragraph 38 is applicable if the undertaking is operating in at least one high climate impact sector. The information required under paragraph 38 (a) to (e). shall also include energy from fossil sources consumed in operations that are not in high climate impact sectors." | None |
| E1-9, AR 72(b) | "the assessment of assets and business activities considered to be at material transition risk relies on or is part of the process to determine material transition risks as described under paragraphs 20 (c) and AR 11 and to determine scenarios as required under paragraphs AR 12 to AR 13. In particular, it shall explain how it has defined medium- and long-term time horizons and how these definitions are linked to the expected lifetime of the undertaking’s assets, strategic planning horizons and capital allocation plans." | "the assessment of assets and business activities considered to be at material transition risk relies on or is part of the process to determine material transition risks as described under paragraphs 20 (c) and AR 12 and to determine scenarios as required under paragraphs AR 12 to AR 15. In particular, it shall explain how it has defined medium- and long-term time horizons and how these definitions are linked to the expected lifetime of the undertaking’s assets, strategic planning horizons and capital allocation plans." | Qualitative |
| E2-1, AR 12 | "When disclosing information under paragraph 11, the undertaking may include contextual information on the relations between its policies implemented and how they may contribute to the EU Action Plan “Towards a Zero Pollution for Air, Water and Soil” with for instance elements on:" | "When disclosing information under paragraph 12, the undertaking may include contextual information on the relations between its policies implemented and how they may contribute to the EU Action Plan “Towards a Zero Pollution for Air, Water and Soil” with for instance elements on:" | Qualitative |
| E2-6, disclosure requirement 38(a) | "anticipated financial effects due to material risks arising from pollution-related impacts and dependencies and how these risks have (or could reasonably be expected to have) a material influence on the undertaking’s , financial position financial performance and cash flows, over the short-, medium- and long-term." | "anticipated financial effects due to material risks arising from pollution-related impacts and dependencies and how these risks have (or could reasonably be expected to have) a material influence on the undertaking’s financial position, financial performance, and cash flows, over the short-, medium- and long-term." | None |
| E2-6, disclosure requirement 40 | "The information provided under paragraph 38(a) shall include:" | "The information provided under paragraph 39(a) shall include:" | Qualitative |
| E3-4, AR 29 | "When disclosing contextual information on water consumption performance required by paragraph 26, the undertaking shall explain the calculation methodologies and more specifically the share of the measure obtained from direct measurement, from sampling and extrapolation, or from best estimates." | "When disclosing contextual information on water consumption performance required by paragraph 28(e), the undertaking shall explain the calculation methodologies and more specifically the share of the measure obtained from direct measurement, from sampling and extrapolation, or from best estimates." | None |
| E3-5, AR 34 | "The quantification of the anticipated financial effects in monetary terms under paragraph 39(a) may be a single amount or a range." | "The quantification of the anticipated financial effects in monetary terms under paragraph 33(a) may be a single amount or a range." | None |
| E4-ESRS 2 IRO-1 | "Disclosure Requirement related to ESRS 2 IRO-1 Description of processes to identify and assess material biodiversity and ecosystem-related impacts, risks, dependencies and opportunities" | "Disclosure Requirement related to ESRS 2 IRO-1 - Description of processes to identify and assess material biodiversity and ecosystem-related impacts, risks, dependencies and opportunities" | Not applicable |
| E4-ESRS 2 IRO-1, AR 8(c)ii | "the percentage of its procurement spend from suppliers with facilities which are located in risk prone areas (with threatened species on the IUCN Red List of Species, the Birds and Habitats Directive or nationally list of threatened species, or in officially recognised Protected Areas, the Natura 2000 network of protected areas and Key Biodiversity Areas); and" | "the percentage of its procurement spent from suppliers with facilities which are located in risk prone areas (with threatened species on the IUCN Red List of Species, the Birds and Habitats Directive or nationally list of threatened species, or in officially recognised Protected Areas, the Natura 2000 network of protected areas and Key Biodiversity Areas);" | None |
| E4-2, disclosure requirement 20 | "The undertaking shall describe its adopted policies to manage its material impacts, risks, dependencies, and opportunities related to biodiversity and ecosystems." | "The undertaking shall describe its adopted policies to manage its material impacts, risks, dependencies, and opportunities that are related to biodiversity and ecosystems." | Qualitative |
| E4-3, AR 19(a) | "avoidance through site selection (Locate the entire project away from areas recognised for important biodiversity values);" | "avoidance through site selection (Locate the entire project away from biodiversity-sensitive areas);" | None |
| E4-3, AR 19(b) | "avoidance through project design (Configure infrastructure to preserve areas at the project site with important biodiversity values); and" | "avoidance through project design (Configure infrastructure to preserve biodiversity-sensitive areas); and" | None |
| E4-6, disclosure requirement 44(b) | "anticipated financial effects due to material opportunities related to biodiversity- and ecosystem." | "anticipated financial effects due to material opportunities related to biodiversity and ecosystems." | None |
| E5-5, disclosure requirement 36(b) | "The reparability products, using an established rating system, where possible;" | "The reparability of products, using an established rating system, where possible;" | Qualitative |