The European Financial Reporting Advisory Group – EFRAG is a private association established in 2001.

In 2022 the European Union assigned to EFRAG to develop the draft EU Sustainability Reporting Standards, as part of the Corporate Sustainability Reporting Directive (CSRD).

EFRAG’s work is organized in two pillars. The Financial reporting pillar and the Sustainability reporting pillar.

EFRAG has cooperation agreements with GRI, Shift  and WICI  for its sustainability reporting activities.


The first standards are going to be published by the end of 2022, and the drafts released for public consultation can be found  here