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Jipyong’s ESG Center Publishes Korean Translation of European Sustainability Reporting Standards

2024.12.31

On December 31, Jipyong’s ESG Center published a Korean translation of the European Sustainability Reporting Standards (ESRS) (the “ESRS Translation”) to help Korean companies better access and understand the standards.   
 
The European Union (EU) introduced the Sustainable Finance Package to direct capital toward sustainable activities in pursuit of its goal to achieve climate neutrality by 2050.  A key part of this package is the Corporate Sustainability Reporting Directive (CSRD), which applies not only to EU-based companies but also to non-EU companies that meet certain criteria.  Approximately 50,000 companies are expected to fall within its scope.  A significant number of Korean companies operating in the EU will be subject to the CSRD, and even those not directly covered may still be required to provide sustainability information through business relationships within the EU.   
 
To comply with the CSRD and related disclosure requests, companies must understand the European Sustainability Reporting Standards (ESRS).  The ESRS provides a uniform framework for sustainability reporting, aiming to improve comparability across companies by standardizing the scope and level of disclosures.  It also enhances the credibility of sustainability data by enabling consistent verification, supervision, and enforcement—ultimately giving it a status comparable to that of financial information.  Companies subject to the CSRD are required to disclose information in accordance with the ESRS, and given that the ESRS also mandates disclosure related to value chains, even companies outside the CSRD’s direct scope may be impacted.   
 
The Korean translation mirrors the original ESRS layout to allow for easy side-by-side comparison.  Paragraph formatting and structures closely follow the English version.  Through this translation, Jipyong’s ESG Center aims to enhance Korean companies’ understanding of the ESRS and support their compliance with evolving sustainability reporting requirements.   
 
[A Photo of ESRS Translation]
<img alt="" height="444" src="https://www.jipyong.com/uploads/editor/image/2024/12/20241227044143_[표지]_유럽_지속가능성_보고_기준(ESRS).png" width="300" />

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