22nd of May 2025, 16.00-17.00 CEST
First coined in a 2004 report commissioned by the UN and building on the idea of corporate social responsibility (CSR), the “ESG” (Environmental, Social and Governance) framework has become a key voluntary framework for investors and citizens to understand how companies fare on environmental, social and governance issues.
In 2022, by adopting the Corporate Sustainability Reporting Directive (CSRD), the European Union went a step further, putting in place a mandatory reporting procedure for companies above a certain size, that have to report both on their impact on people and the environment, and on how social and environmental issues create financial risks and opportunities for the company.
Companies subject to the CSRD have to report according to European Sustainability Reporting Standards (ESRS), which are developed following Technical Advice from EFRAG, in the form of draft European Sustainability Reporting Standards and/or draft amendments to these Standards. EFRAG, previously known as the European Financial Reporting Advisory Group, is an independent body bringing together various different stakeholders.
12 common standards were developed across environmental, social, governance and cross-cutting issues. Environmental standards cover five key areas including climate (E1), pollution (E2), water and marine resources (E3), biodiversity and ecosystems (E4), as well as resource use and circular economy (E5).
But what role can Earth Observation and EO-added value services play within the ESRS and the CSRD? How can EO support companies in complying with these regulations?
Join us next week as our host Geoff Sawyer (EARSC Strategic Advisor and former Secretary General) and Pedro Faria (Environmental Leader, EFRAG) explore the EU’s mandatory framework for ESG monitoring, including the main environmental standards, and how EO added value services can support companies in their reporting and environmental management practices. An exchange where EFRAG will also be eager to hear from EARSC members, and the EO community attending the EOcafe, what EO data and solutions could support companies in implementing the CSRD and the ESRS!
Some questions that could be addressed during this EOcafe include:
- What is EFRAG and what is its mandate?
- What do the CSRD and ESRS require in terms of environmental reporting? Will this change in light of the Omnibus package?
- How does the ESRS (and CSRD) fit into, and compare, with other ESG reporting frameworks?
- How can EO and added-value services support companies having to report under the ESRS? Which standards can benefit from EO data and solutions?
- Are there any opportunities for EARSC members and the EO community to get involved with EFRAG or open consultations?
Registration: The webinar is open to all. Registration is free but compulsory.
Please note this is a virtual event!
EOcafe is part of a series of EARSC meetings that offer timely, relevant, and practical information on a broad variety of topics related to the EO sector. Join us every two weeks to discuss and network while enjoying a cup of coffee with friends.
IMPORTANT NOTES!!!
- The use of a video camera is not mandatory but is encouraged to facilitate better interaction between the attendees and the guest speaker(s).
- The EOcafe will stay open after 17:00 in case our guests want to continue the discussion.
- By registering for this event, you accept the terms and conditions (https://earsc.org/wp-content/uploads/2021/03/EARSC_Events_GDPR.pdf).
If you have any questions, and/or you want to know more about the EOcafe, and/or you want to share an idea about a future EOcafe, please contact Tanya Walker (tanya.walker@earsc.org).
