The European Financial Reporting Advisory Group (EFRAG) has published its first Sustainability Report, covering 2025, setting out its environmental, social and governance performance and how sustainability considerations are embedded in its core activities and internal practices. Prepared under the Voluntary Standard for SMEs (VSME), the report uses the VSME Digital Template and Converter developed by the EFRAG Secretariat in 2025 and is provided as a human-readable Inline XBRL file with disclosures automatically tagged to the VSME XBRL taxonomy. Certain disclosures, including on strategy and business model, were adapted to reflect EFRAG’s status as a European non-profit association (AISBL). The Secretariat also identified challenges commonly faced by SME preparers, which EFRAG intends to use to shape future implementation support and as a reference point for other European AISBLs preparing first-year reporting. EFRAG plans to update the VSME Digital Template and Converter in the following months for public use, adding customisation features applied in its own report such as colour customisation, footnotes for additional context, and the ability to add a customised logo on each page.
European Financial Reporting Advisory Group 2026-04-27
European Financial Reporting Advisory Group publishes its first Sustainability Report for 2025 under the VSME standard
The European Financial Reporting Advisory Group has published its first Sustainability Report under the Voluntary Standard for SMEs as a human-readable Inline XBRL file with disclosures tagged to the VSME XBRL taxonomy. The report applies adaptations for EFRAG’s status as a European non-profit association and highlights implementation challenges for SME preparers, which will inform future implementation support and serve as a reference for other European AISBLs. EFRAG plans to update the VSME Digital Template and Converter for public use, incorporating customisation features used in its report.