We’ve identified around 1,000 data points companies will need to report,” Patrick de Cambourg, chair of the EFRAG Sustainability Reporting Board, said in an interview.

The European Financial Reporting Advisory Group has drawn up comprehensive reporting rules covering all aspects of environmental, social and governance issues, which will be mandatory for big European companies beginning in the 2024 financial year. The standards have been sent to the European Commission for approval, De Cambourg said. They are expected to be finalized around the middle of 2023, and will then be made mandatory in all EU countries. That means many companies will have to comply with the EU rules ahead of global rules that are being drawn up by the International Sustainability Standards Board, or ISSB, which will cover far fewer topics.