European Financial Reporting Advisory Sustainability Profile
European Financial Reporting Advisory Group (EFRAG), headquartered in Belgium, plays a pivotal role in the financial reporting landscape across Europe. Established in 2001, EFRAG has been instrumental in advising on the adoption and implementation of International Financial Reporting Standards (IFRS) within the European Union. Operating primarily in the financial services industry, EFRAG focuses on enhancing the quality of financial reporting and ensuring transparency for stakeholders. Its core services include technical advice, research, and stakeholder engagement, which are distinguished by a commitment to fostering high-quality financial information. With a strong market position, EFRAG has achieved notable milestones, including its involvement in the endorsement process of IFRS standards. The organisation's unique approach to collaboration with various stakeholders solidifies its reputation as a trusted advisor in the realm of financial reporting.
DitchCarbon Score
How does European Financial Reporting Advisory's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Business Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
European Financial Reporting Advisory's score of 32 is higher than 57% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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European Financial Reporting Advisory's reported carbon emissions
In 2020, the European Financial Reporting Advisory Group (EFRAG) reported total carbon emissions of approximately 133,146,000 kg CO2e, comprising 98,194,000 kg CO2e from Scope 1 and 34,952,000 kg CO2e from Scope 2 emissions. The organisation has set ambitious climate commitments, pledging to maintain carbon neutrality for its worldwide operations through at least 2025 for both Scope 1 and Scope 2 emissions. This commitment reflects a proactive approach to climate action, aligning with industry standards for sustainability. In previous years, EFRAG's emissions were significantly higher, with a total of 640,000,000 kg CO2e reported in 2018, which included substantial Scope 3 emissions. However, specific data for 2019 and 2017 is not available, indicating a potential gap in reporting during those years. Overall, EFRAG's focus on carbon neutrality and its commitment to reducing emissions demonstrate a strong dedication to addressing climate change and enhancing sustainability within the financial reporting sector.
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| 2018 | 2020 | |
|---|---|---|
| Scope 1 | 158,000,000 | 00,000,000 |
| Scope 2 | 193,000,000 | 00,000,000 |
| Scope 3 | 11,672,000,000 | - |
How Carbon Intensive is European Financial Reporting Advisory's Industry?
How Carbon Intensive is European Financial Reporting Advisory's Location?
European Financial Reporting Advisory's Scope 3 Categories Breakdown
Nearly all of their carbon footprint comes from suppliers and value chain emissions, representing nearly all emissions under the GHG Protocol, with "Use of Sold Products" being the largest emissions source at 51% of Scope 3 emissions.
Top Scope 3 Categories
European Financial Reporting Advisory's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
European Financial Reporting Advisory has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
