Is your industry covered under CSRD’s sector-specific standards? Companies should understand their industry’s ESG reporting obligations early to ensure compliance and maintain stakeholder trust. Stay ahead by following our weekly CSRD insights!

1. Why Sector-Specific Standards Matter

• Different industries face different ESG risks (e.g., carbon emissions in manufacturing vs. data privacy in tech).
• Ensures investors and regulators receive relevant disclosures for better decision-making.
• Helps businesses benchmark sustainability performance against industry peers.

2. Industries Covered by CSRD Sector-Specific Standards

• The European Financial Reporting Advisory Group (EFRAG) is developing standards for:
• High-emission sectors (Energy, Oil & Gas, Mining, Heavy Industry)
• Consumer sectors (Retail, Food & Beverage, Apparel, Travel & Tourism)
• Financial services (Banks, Insurance, Investment Firms)
• Technology & Telecommunications (Data Privacy, Digital Carbon Footprint)
• Healthcare & Pharmaceuticals (Ethical Sourcing, R&D, Patient Impact)

3. How Will Sector-Specific Reporting Work?

• Companies will report both under the ESRS general standards and sector-specific standards.
• Reports will highlight key ESG risks, sector benchmarks, and industry-wide sustainability goals.
• Businesses in high-impact industries may face stricter requirements and enhanced disclosure mandates.

4. How Can Companies Prepare?

Identify your industry’s reporting requirements under CSRD. Align ESG data collection and strategy with sector-specific risks and opportunities. Benchmark against industry peers to ensure best-in-class reporting. Monitor EFRAG’s updates on sector-specific standards and evolving regulatory expectations.

Coming Next Week:

CSRD & Value Chain Reporting – How to Manage Scope 3 Emissions & Supply Chain Transparency: CSRD requires businesses to report beyond their own operations—including supplier emissions, social impacts, and ESG risks throughout the value chain. Next week, we’ll dive into how to approach Scope 3 reporting and manage supplier ESG compliance.