31/03/2022 - Open call for tenders to assist EFRAG in its cost-benefit analysis of draft European Sustainability Reporting Standards
EFRAG has issued today an open call for tenders to assist EFRAG in the cost-benefits analysis of the first set of European Sustainability Reporting Standards (ESRS).
Tenders, which should include a completed and signed Information Form and all the information specifically requested in the call for tenders, should be sent to EFRAG at call.for.tender@EFRAG.ORG no later than Thursday 28 April 2022 18.00 hrs Brussels time.
The European Commission adopted a legislative proposal for a Corporate Sustainability Reporting Directive (CSRD) which would require companies within its scope to report in compliance with European Sustainability Reporting Standards (ESRS) adopted by the European Commission as delegated acts. Under the proposals for a CSRD, EFRAG would be the technical advisor to the European Commission developing draft ESRS accompanied with their basis for conclusion, cost-benefit analysis and guidance for Digital Reporting.
The objective of the contract is to assist EFRAG in the preparation of the cost-benefit analysis, in particular, collecting data and evidence and performing preliminary analysis that can be used by EFRAG in preparation of its ex-ante cost-benefit analysis of the first set of draft ESRS described in Section B3 of the enclosed call for tenders.
The purpose of the cost-benefit analysis is to understand the impacts of the proposed ESRS and amendments from various stakeholders’ points of view on a systematic basis. This is to enable informed judgements about how to balance the needs of different and possibly competing interests, including costs and benefits, including wider impacts on sustainability matters.
Tenderers are asked to assess the costs and benefits for a broad set of stakeholders including reporting entities, investors (and other financial market participants including rating agencies and data providers) and lenders, civil society organisations and society at large. Benefits and costs can be direct or indirect (e.g. the trickle down effects on SMEs as being part of the value chain of larger groups).
The maximum value of the contract is 400.000 euros (including VAT and expenses).
- The call for tenders can be downloaded here.
- The Information Form (word version to becompleted) and the Draft Contract form are part of the call for tenders.
Tenders, which should include a completed and signed Information Form and all information specifically requested in the call for tenders, should be sent to EFRAG at call.for.tender@EFRAG.ORG no later than Thursday 28 April 2022 - 18.00 hrs Brussels time.
