The European Financial Reporting Advisory Group (EFRAG) has submitted a work plan to the European Commission setting out how it will deliver technical advice on revising and simplifying the European Sustainability Reporting Standards (ESRS), following a mandate received on 27 March 2025. The EFRAG Sustainability Reporting Board has approved a comprehensive, accelerated plan intended to reduce companies’ reporting burden while keeping ESRS practical, effective and proportionate. The approach draws on the experience of first-wave companies that applied the ESRS adopted on 31 July 2023 for their 2024 financial year, and includes a detailed operational action plan and timeline covering key activities, deliverables and stakeholder engagement, alongside close coordination with the Commission’s services. The timetable includes a public consultation on Exposure Drafts scheduled between the end of July and early September, with EFRAG’s technical advice due by 31 October 2025.
European Financial Reporting Advisory Group 2025-04-25
European Financial Reporting Advisory Group submits fast-tracked work plan to advise the European Commission on simplified ESRS by 31 October 2025
The European Financial Reporting Advisory Group (EFRAG) submitted a work plan to the European Commission to advise on revising the European Sustainability Reporting Standards (ESRS). The plan aims to simplify reporting while maintaining practicality and effectiveness, drawing on experiences from companies that applied the ESRS in 2024. It includes a detailed operational action plan and a public consultation on Exposure Drafts scheduled for late July to early September.