The European Financial Reporting Advisory Group (EFRAG) was honoured at the ISAR Honours 2025 International Category ceremony in Geneva for its Voluntary SME Sustainability Reporting Standard (VSME), recognising the initiative’s role in enabling small and medium-sized enterprises to engage in sustainability reporting. Built for SMEs, the VSME is positioned as a proportionate, easy-to-use framework for environmental, social and governance disclosures that supports the green transition without disproportionate administrative burden and helps meet information demands from customers, banks, supply chains and investors. The initiative also promotes digitalisation through XBRL and open-source tools intended to lower cost and technical barriers, with the stated aim of reducing fragmentation, closing data gaps and improving the availability of consistent ESG information across value chains; the ceremony also recognised other contributors, including the IFRS Foundation.
European Financial Reporting Advisory Group 2025-11-17
European Financial Reporting Advisory Group wins ISAR Honours 2025 International Category award for its VSME sustainability reporting standard
The European Financial Reporting Advisory Group (EFRAG) was recognized at the ISAR Honours 2025 for its Voluntary SME Sustainability Reporting Standard (VSME), which aids sustainability reporting for small and medium-sized enterprises. The VSME provides a proportionate framework for environmental, social, and governance disclosures, promoting digitalisation and reducing administrative burdens. The initiative aims to enhance ESG information consistency across value chains.