Sustainability reporting glossary
CSRD, ESRS, TSRS, the Voluntary Standard, double materiality and GHG scopes: short definitions.
- CSRD
- Corporate Sustainability Reporting Directive. Requires companies above certain size thresholds in the EU to report on sustainability; after Omnibus I it covers companies with more than 1,000 employees and turnover above €450 million.
- ESRS
- European Sustainability Reporting Standards. Define the content of CSRD reports; the simplified version was adopted by C(2026) 5010.
- TSRS
- Turkish Sustainability Reporting Standards, issued by the KGK; TSRS 1 sets general requirements and TSRS 2 covers climate-related disclosures.
- Voluntary Standard (VS)
- The voluntary reporting standard for companies outside CSRD scope (formerly VSME). Under the value-chain cap it is the maximum that may be requested from protected partners.
- Value-chain cap
- The rule that prevents CSRD companies from requesting more than the VS from value-chain partners with up to 1,000 employees.
- Double materiality
- Assessing a topic both for the company's impact on people and the environment (impact materiality) and for its financial effect on the company (financial materiality).
- Scope 1, 2, 3 emissions
- Under the GHG Protocol: direct emissions (Scope 1), indirect emissions from purchased energy (Scope 2) and other indirect emissions in the value chain (Scope 3).
- Limited assurance
- Review of sustainability information by an independent assurance provider with narrower procedures than reasonable assurance.
- EFRAG datapoint / XBRL
- Identifiers in the EFRAG taxonomy (e.g. ESRS26_E1-8_01) used to tag ESRS disclosures in machine-readable form.