The European Financial Reporting Advisory Group (EFRAG) has been creating sustainability reporting pillar. In this regard, it was necessary to enlarge the membership of its General Assembly to allow more organizations to become EFRAG Member Organizations and thus contribute to the development of sustainability reporting standards.
To ensure a balanced representation of different groups of stakeholders, the General Assembly is planned to be supplemented by a Chapter covering Civil Society, which will include non-governmental organizations, universities, trade unions, consumer organizations and others.
The General Assembly currently includes European Stakeholder Organizations Chapter (which includes Accountancy Europe, the European Banking Federation, Insurance Europe, etc.) and National Organizations Chapter with representatives from Austria, Denmark, France (ANC), and Germany (ASCG), Italy (OIC), as well as Luxembourg, the Netherlands, Spain and Sweden.
Any EFRAG member can contribute to the development of financial reporting standards, sustainability reporting or both.
New members are currently being recruited, including representatives of civil society.