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| Section | Weight | Objectives |
|---|---|---|
| Introduction to ESRS and Regulatory Context | 15% | - Relationship between GRI Standards and ESRS - Overview of CSRD and ESRS - Scope and application of ESRS requirements |
| ESRS Topic Standards – Social (S) | 15% | - Workers in the undertaking, value chain and affected communities - Human rights, labor standards and social protection |
| ESRS Topic Standards – Governance (G) | 10% | - Corporate governance, ethics and anti-corruption - Stakeholder engagement and compliance |
| ESRS Topic Standards – Environmental (E) | 15% | - Resource use and circular economy - Climate change, pollution, water and biodiversity |
| ESRS Cross-Cutting Standards (ESRS 1 & ESRS 2) | 25% | - Governance, strategy and risk management - General requirements and disclosures - Measurement, reporting and assurance principles |
| Double Materiality Assessment | 20% | - Principles and definitions of double materiality - Assessment methodologies and documentation - Process for identifying impacts, risks and opportunities |
1. What must organizations disclose under the ESRS regarding their material impacts, risks, and opportunities?
Select all that apply.
A) The outcomes of their double materiality assessment
B) Information outlined in the topical ESRS and sector-specific standards
C) Minimum Disclosure Requirements on policies, actions, and targets
D) A general overview of their sustainability policies, even if unrelated to specific material matters
2. Select all the correct steps for conducting a double materiality assessment based on the ESRS.
A) Compare the identified material topics with the list in ESRS 1 Application Requirement 16.
B) SBM-3 outlines disclosure requirements on the material impacts, risks, and opportunities resulting from the materiality assessment.
C) Only financial materiality should be considered when conducting the assessment.
D) Entity-specific disclosures must be developed only for impacts covered by ESRS.
E) ESRS 2 requires the use of IRO-1 to report on the organization's process for identifying impacts, risks, and opportunities.
F) Double materiality assessments are not required for organizations following the ESRS.
3. What are the two categories of stakeholders identified in the ESRS?
A) Primary and secondary stakeholders.
B) Affected stakeholders and users of sustainability statements.
C) Internal and external stakeholders.
4. Which of the following statements about the EU's Corporate Sustainability Reporting Directive (CSRD) and its predecessor, the Non-Financial Reporting Directive (NFRD), are correct? Select all options that apply.
A) The NFRD mandated external assurance for sustainability information in all Member States.
B) The NFRD required all companies in the EU to include a non-financial statement in their annual reports.
C) The NFRD applied to large public-interest entities with 500 or more employees, such as listed companies, credit institutions, and insurance undertakings.
D) The NFRD replaced the CSRD to expand reporting requirements and organization coverage.
E) The CSRD was introduced to address the limitations of the NFRD in scope and reporting requirements.
5. Indicate whether the following statement is true or false.
In the ESRS, impact materiality is considered the starting point for the double materiality assessment because material impacts may trigger financial risks and opportunities in the future.
A) False
B) True
Solutions:
| Question # 1 Answer: A,B,C | Question # 2 Answer: A,B,E | Question # 3 Answer: B | Question # 4 Answer: C,E | Question # 5 Answer: B |
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