Global standard setters

    EFRAG

    The European advisory body that develops the European Sustainability Reporting Standards (ESRS).

    Official site

    Background

    EFRAG advises the European Commission on financial reporting and sustainability reporting standards.

    Scope and powers

    EFRAG drafted the ESRS used under the EU's CSRD, and prepared the simplified ESRS that cut the number of datapoints from 1,073 to 320.

    Investor relevance

    Indian groups with large EU operations may report under ESRS, which uses double materiality and covers far more topics than the BRSR.

    Related guides

    Key glossary terms

    Last reviewed: October 2026