ESRS-PROFESSIONAL PDF QUESTIONS | ESRS-PROFESSIONAL VALID TORRENT

ESRS-Professional PDF Questions | ESRS-Professional Valid Torrent

ESRS-Professional PDF Questions | ESRS-Professional Valid Torrent

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GRI ESRS Professional Certification Exam Sample Questions (Q39-Q44):

NEW QUESTION # 39
What features define a digital reporting platform? Select all that apply.

  • A. Structured data formats
  • B. Real-time updates and compliance tools
  • C. Interactive dashboards
  • D. Manual data entry processes

Answer: A,B,C

Explanation:
Adigital reporting platformunder ESRS is designed to enhance the efficiency and accuracy of sustainability disclosures. It must enable seamless reporting and compliance monitoring through advanced digital features.
The defining elements include:
* (A) Structured data formats
* Digital platforms must support structured formats likeXBRL (eXtensible Business Reporting Language), ensuringmachine-readability and interoperabilitywith financial reporting standards.
* (C) Interactive dashboards
* Platforms often providevisualization tools and dashboardsto facilitate analysis and comparison of sustainability data across different periods and entities.
* (D) Real-time updates and compliance tools
* Digital reporting solutions should offerreal-time data integrationto enable ongoing compliance tracking and alignment withevolving regulatory requirements.
* (B) Manual data entry processes
* Manual entry isnot a characteristicof a digital reporting platform. Instead, digital platforms prioritizeautomation, integration, and structured data processingto improve efficiency and reduce errors.
* Commission Delegated Regulation (EU) 2023/2772, ESRS 1, Section 8.1 & 9.2- Establishes digitalization and connectivity requirements for sustainability reporting.
* EFRAG Digital Reporting Guidelines (2024)- Defines structured data standards and compliance automation in ESRS reporting.
Incorrect Option:Official References:


NEW QUESTION # 40
Select all the correct steps for conducting a double materiality assessment based on the ESRS.

  • A. Compare the identified material topics with the list in ESRS 1 Application Requirement 16.
  • B. SBM-3 outlines disclosure requirements on the material impacts, risks, and opportunities resulting from the materiality assessment.
  • C. Only financial materiality should be considered when conducting the assessment.
  • D. Double materiality assessments are not required for organizations following the ESRS.
  • E. Entity-specific disclosures must be developed only for impacts covered by ESRS.
  • F. ESRS 2 requires the use of IRO-1 to report on the organization's process for identifying impacts, risks, and opportunities.

Answer: A,B,F

Explanation:
Thedouble materiality assessmentinvolves identifying sustainability matters that are material either from:
* An impact perspective(the organization's effects on people and the environment).
* A financial perspective(how sustainability matters affect the organization financially).
Thecorrect stepsin conducting this assessment include:
* (A) Comparing identified material topics with ESRS 1 AR 16- This ensures alignment with predefined sustainability mattersin ESRS.
* (C) Using ESRS 2 IRO-1- This disclosure requirement mandates companies toreport on their methodology for identifying impacts, risks, and opportunities.
* (D) Following SBM-3 of ESRS 2- This section provides requirements fordisclosing the material impacts, risks, and opportunities identified through the materiality assessment.
* (B) False:Entity-specific disclosures must coverall material sustainability topics, even those not explicitly covered in ESRS.
* (E) False:Both financial and impact materiality must be considered(double materiality), not just financial materiality.
* (F) False:Double materiality assessments are mandatoryfor all organizations reporting under ESRS.
* Commission Delegated Regulation (EU) 2023/2772, Section 3.3 on Double Materiality
* EFRAG Compilation on Double Materiality Assessments, providing step-by-step guidance on ESRS compliance Why the other options are incorrect:References:==============


NEW QUESTION # 41
EcoFurniture Inc., an organization producing eco-friendly furniture, is conducting Step B of its double materiality assessment. During this step it identifies potential deforestation impacts in its upstream value chain due to its timber sourcing and reputational risks related to environmental standards compliance. Which of the following actions should EcoFurniture take during Step B to ensure a comprehensive assessment of its actual and potential IROs? Select all that apply.

  • A. Use scientific research to validate sustainability trends and risks in the forestry sector.
  • B. Conduct stakeholder engagement with local communities near timber supply locations.
  • C. Screen sustainability matters listed in ESRS 1 AR 16 and compare them to its entity-specific sustainability matters.
  • D. Ignore potential risks in the downstream value chain, as they are less material.

Answer: A,B,C

Explanation:
EcoFurniture Inc. is performingStep B of its double materiality assessmentunder ESRS, which involves identifying and assessingimpacts, risks, and opportunities (IROs)from both animpact materialityand financial materialityperspective.
During Step B, the organization must:
* Compare entity-specific sustainability matters to ESRS 1 AR 16
* Screening sustainability matters listed in ESRS 1 AR 16ensures that EcoFurniture Inc.
identifies allpotential material topicsand aligns them with itsspecific sustainability context.
* Action:#(A) is correct
* Engage with affected stakeholders
* Stakeholder engagementis a key requirement in the ESRSdouble materiality process, especially for industries with environmental and social impacts, such as deforestation risks in EcoFurniture's timber sourcing.
* ESRS 2 IRO-1 explicitly states that stakeholder engagement is necessary tovalidate materiality assessments.
* Action:#(B) is correct
* Consider downstream impacts
* ESRS mandates assessingboth upstream and downstreamsustainability impacts.Ignoring potential risks in the downstream value chain is not aligned with ESRS requirements.
* Action:#(C) is incorrect
* Use scientific research to validate sustainability trends and risks
* Theuse of scientific evidenceis an essential part of assessing sustainability matters.ESRS encourages leveraging research and external data to confirm industry-specific sustainability risks.
* Action:#(D) is correct
Conclusion:EcoFurniture Inc. must integratestakeholder engagement, scientific research, and systematic comparison of sustainability matters to ESRS requirementsto ensure a robust Step B materiality assessment.Ignoring the downstream value chain is not permissibleunder ESRS.
* Commission Delegated Regulation (EU) 2023/2772
* Compilation Explanations January - November 2024
Official References:


NEW QUESTION # 42
Which of the following correctly fills the gaps in the paragraph below?
ESRS 2 IRO-1 mandates organizations to disclose their process to identify __________ and assess their materiality, including if and how consultation with __________ informed the outcome of the process.
Because most __________ arise from impacts, impact materiality is often the starting point for __________.

  • A. financial materiality; affected stakeholders; impacts, risks, and opportunities; risks and opportunities.
  • B. affected stakeholders; impacts, risks, and opportunities; financial materiality; risks and opportunities.
  • C. impacts, risks, and opportunities; affected stakeholders; risks and opportunities; financial materiality.

Answer: C

Explanation:
ESRS 2 IRO-1 requires organizations to disclose their process for identifyingimpacts, risks, and opportunitiesand assess theirmateriality. This includes detailing whether and howaffected stakeholders were consulted during the process. Sincerisks and opportunitiestypically stem fromimpacts, the process of impact materiality assessmentserves as a natural starting point before evaluating theirfinancial materiality.
* Identification of Impacts, Risks, and Opportunities (IROs):
* Organizations must disclose their methodology for identifying materialimpacts, risks, and opportunities.
* These include bothactual and potential impactson people and the environment, considering short-, medium-, and long-term horizons.
* Consultation with Affected Stakeholders:
* ESRS 2 IRO-1 requires disclosure of whether and how theconsultation with affected stakeholdersinfluenced the identification of material sustainability matters.
* Stakeholder engagement is crucial in determining the scope and severity of sustainability impacts.
* Role of Impact Materiality:
* Impact materiality assessmentprecedes the evaluation of risks and opportunities.
* Since mostrisks and opportunitiesoriginate fromimpacts, impact materiality serves as the starting pointfor assessing theirfinancial materiality.
* Financial Materiality Evaluation:
* Financial materiality pertains to the extent that a sustainability matteraffects the undertaking's financial position, performance, cash flows, or cost of capital.
* It evaluates whether an impact or risk could reasonably be expected to have amaterial financial effecton the organization.
* "Impacts, risks, and opportunities"correctly defines the scope of ESRS 2 IRO-1.
* "Affected stakeholders"are explicitly referenced as a crucial element in the disclosure process.
* "Risks and opportunities"emerge from sustainability impacts, making impact materiality the logical starting point.
* "Financial materiality"is the final step, determining the financial significance of sustainability risks and opportunities.
Why is B the Correct Answer?Thus, the correct sequence isB: impacts, risks, and opportunities; affected stakeholders; risks and opportunities; financial materiality.
Official Commission Delegated Regulation (EU) 2023/2772, various EFRAG guidance documents, and CSRD-related references:
* Commission Delegated Regulation (EU) 2023/2772, Annex I: ESRS 2 IRO-1 materiality assessment requirements.
* EFRAG Compilation of Explanations (January - November 2024): Explanation of ESRS 2 IRO-1 and its link to impact materiality.


NEW QUESTION # 43
Which of the following correctly fills the gaps in the paragraph below?
The first set of the ESRS consist of several standards: The first group includes __________ General requirements and __________ General disclosures. These standards apply regardless of the specific sustainability topic being reported.
The next group includes ten __________ that cover various topics across the three dimensions of sustainable development. For example, ESRS E1 focuses on the environmental dimension, particularly climate change.
Finally, the last group includes the __________ which are currently under development.

  • A. ESRS 1; ESRS 2; topical standards; sector-specific standards
  • B. topical standards; ESRS 2; ESRS 1; sector-specific standards
  • C. ESRS 2; ESRS 1; topical standards; sector-specific standards
  • D. ESRS 2; topical standards; sector-specific standards; ESRS 1

Answer: A

Explanation:
The ESRS (European Sustainability Reporting Standards) framework consists of three primary categories of standards:
* ESRS 1 (General Requirements):
* ESRS 1 sets out thefundamental principlesand requirements for sustainability reporting.
* It provides an overview of the structure and drafting conventions of the ESRS framework, defining the categories of ESRS standards: cross-cutting, topical, and sector-specific.
* It also establishes thedouble materiality principleas the basis for sustainability disclosures.
* ESRS 2 (General Disclosures):
* ESRS 2 outlines thecore disclosure requirementsapplicable to all sustainability topics, ensuring comparability and completeness.
* It includes general governance, strategy, impact, risk, and opportunity management disclosures applicable to all sustainability topics.
* These disclosure requirements apply to all undertakingsregardless of the specific sustainability topics being reported.
* Topical Standards:
* The ESRS framework includes tentopical standardscovering the three key dimensions of sustainability:
* Environmental (E): ESRS E1 (Climate Change), ESRS E2 (Pollution), ESRS E3 (Water & Marine Resources), ESRS E4 (Biodiversity & Ecosystems), and ESRS E5 (Resource Use
& Circular Economy).
* Social (S): ESRS S1 (Own Workforce), ESRS S2 (Workers in the Value Chain), ESRS S3 (Affected Communities), and ESRS S4 (Consumers & End-users).
* Governance (G): ESRS G1 (Business Conduct).
* These standards providespecific requirementson sustainability matters, complementing the general disclosure requirements in ESRS 2.
* Sector-Specific Standards:
* Sector-specific ESRS arecurrently under development.
* These will address sustainability mattersspecific to different industries, ensuring that sectoral nuances are properly considered.
* They aim tofill gaps not sufficiently coveredby the topical standards by defining industry- specific impacts, risks, and opportunities.
* ESRS 1 (General Requirements) comes first, setting the foundation.
* ESRS 2 (General Disclosures) follows, providing cross-cutting disclosure requirements.
* Topical standards are next, covering specific sustainability topics.
* Sector-specific standards are the final category, though they are still in development.
Why is C. ESRS 1; ESRS 2; topical standards; sector-specific standards the correct answer?Thus, the correct order aligns with theofficial structureof the ESRS framework as mandated inCommission Delegated Regulation (EU) 2023/2772.
Official Commission Delegated Regulation (EU) 2023/2772, various EFRAG guidance documents, and CSRD-related references:
* Commission Delegated Regulation (EU) 2023/2772, Annex I: Structure of the ESRS framework.
* EFRAG Compilation of Explanations (January - November 2024): Explanation of ESRS categories.
* EFRAG Mapping of Sustainability Matters to Topical Disclosures (Q&A ID 177): Confirmation of ESRS 1, ESRS 2, and the ten topical standards.


NEW QUESTION # 44
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