Welcome to the monthly capital markets update, a briefing from our capital markets practice area rounding up the month’s regulatory developments within the equity and debt capital markets and looking ahead to future developments.
Malta Update
UPDATE NUMBER 06/2024/01
On 31 May 2024, the European Financial Reporting Advisory Group (“EFRAG”) published its first three (3) non-authoritative implementation guidance documents (“IG”) on European Sustainability Reporting Standards (“ESRS”) namely, the EFRAG IG 1, EFRAG IG 2 and EFRAG IG 3.
These documents offer essential guidance to help organizations effectively implement and comply with ESRS standards.
EFRAG IG 1 provides an illustrative materiality assessment for undertakings and includes FAQs on double materiality, offering guidance on disclosing material impacts, risks, and opportunities.
EFRAG IG 2 outlines rules, targets, metrics and materiality assessments including value chain reporting and operational control with environmental standards and shows the group’s reporting boundaries for sustainability reporting.
EFRAG IG 3 translates specific ESRS Set 1 criteria into Application and Disclosure Requirements in an Excel format. The file includes information on requirement types and transitory provisions. This list can be used for data gathering or gap analysis projects.
EFRAG also announced the release of forty-four new explanations to help stakeholders with the implementations of ESRS through the EFRAG ESRS Q&A Platform.
European Union Update
There were no updates from a European Union regulatory perspective for the month of June 2024.
