EFRAG Appoints Kerstin Lopatta as Sustainability Reporting Board Chair

The European Financial Reporting Advisory Group appointed Kerstin Lopatta as its new EFRAG Sustainability Reporting Board Chair for a three-year term beginning in May, a pivotal moment as the European Commission prepares to adopt simplified ESRS and a new voluntary sustainability reporting standard. Lopatta previously served as EFRAG SRB Vice Chair since 2022.

Lopatta is professor of Financial Accounting, Auditing, and Sustainability at the University of Hamburg and adjunct professor at the University of Luxembourg, with visiting professor status at City University of Hong Kong. She has been involved in developing and implementing sustainability disclosure standards, including serving as an academic observer on the Sustainable Finance Committee of the German Ministry of Finance and co-reviewing the adaptation of the German Sustainability Code to CSRD and EU Taxonomy requirements. Her appointment is timed to the expected adoption of the simplified ESRS delegated act and a new voluntary standard by the European Commission by end of June.

EFRAG was mandated by the European Commission in 2020 to develop European Sustainability Reporting Standards underlying the CSRD, submitting the original ESRS in 2022 and updating them in 2025. The EFRAG SRB is responsible for all of the organization's sustainability reporting positions. The upcoming agenda for the new chair includes overseeing implementation support for the simplified ESRS, following the EU Omnibus I changes that significantly narrowed the scope of mandatory CSRD reporting, and facilitating the development of the new voluntary standard for companies outside mandatory scope.

Lopatta said her priority will be ensuring that the ESRS deliver meaningful, decision-useful information while supporting companies in their implementation journey. EFRAG Administrative Board President Benoit Jaspar said Lopatta's four years of experience as Vice Chair make her fully equipped for the role. For Indian companies and investors engaging with EU sustainability reporting developments, EFRAG's work on simplified ESRS and voluntary standards will shape the reporting landscape for supply chain partners and EU-listed entities with Indian operations.

Key figure — Three-year term for Kerstin Lopatta as EFRAG Sustainability Reporting Board Chair