ESAP – What is the European Single Access Point?
What is ESAP?
ESAP, or the European Single Access Point, is a centralised platform where companies’ sustainability statements will be made available to the public as mandated by the Corporate Sustainability Reporting Directive (CSRD). ESAP aims to streamline the reporting process and make sustainability data easily accessible to stakeholders, including investors and regulators.
ESAP does not set additional information reporting requirements on European companies, as it provides access to information based on directives and regulations such as CSRD and the ESRS standards.
Why is ESAP Being Established?
The idea of ESAP is to meet the growing demand for transparency and accountability in corporate sustainability practices. It provides a standardised and accessible repository of sustainability information, making it easier to compare and analyse data across different companies and sectors. This initiative supports the EU’s objectives of promoting sustainable finance and achieving climate neutrality by 2050.
When will ESAP open?
ESAP is currently scheduled to be operational by January 2028, which gives companies time to prepare for the new digital reporting requirements.
Do I need to submit my sustainability statement to ESAP?
Yes, if your company falls under the scope of the CSRD, you will need to submit your sustainability statement to ESAP. The submission will be made through a national contact point, such as FIN-FSA or the Finnish Patent and Registration Office in Finland.
The report must be tagged according to the European Single Electronic Format (ESEF) standards to comply. ESEF ensures that the data is both machine- and human-readable, facilitating easier analysis and comparison across different companies.
Power of digitalisation for compliant CSRD Reporting
Due to the complexity of the ESRS standards, it is optimal to apply electronic CSRD reporting from the beginning. Therefore, traditional reporting methods are no longer efficient or appropriate. The sustainability report must be submitted through national contact points to ESAP from January 2028 onwards, when the reporting data must meet the electronic marking standard (ESEF) requirements. The sustainability report must be prepared in XHTML format, and its information must be marked with an electronic XBRL tag. When implementing sustainability reporting under CSRD, the focus should be on the finish line. Enter Ecobio Manager: Your all-in-one solution for sustainability reporting.
Streamline CSRD Reporting with Ecobio Manager
Ecobio Manager is a thorough solution for CSRD sustainability reporting, encompassing double materiality assessment, taxonomy classification, data collection, sustainability statement preparation, assurance, and streamlined delivery to publication. Designed by sustainability experts, Ecobio Manager ensures compliance with CSRD and ESRS standards, streamlining the reporting process.
