European Financial Reporting Advisory Group extends to 8 July registration for field test of draft ESRS for Third-Country Undertakings

The European Financial Reporting Advisory Group has extended to 8 July the deadline for companies to register interest in joining its field test of the draft European Sustainability Reporting Standards for Third-Country Undertakings, ahead of a public consultation expected to start in the second half of July 2026. The exercise is aimed at third-country companies active in the EU market and is designed to test whether the proposed reporting requirements are workable and relevant in practice. The draft ESRS for Third-Country Undertakings will apply to third-country companies with significant EU activities within the scope of Article 40a of the Corporate Sustainability Reporting Directive. EFRAG said the field test will focus in particular on avoiding double reporting through interoperability, the option to limit non-climate disclosures to EU-related impacts only under a mixed approach, and references to EU law and regulation. Participating companies will simulate applying the draft standard, complete a questionnaire, identify implementation challenges and suggest improvements. They may test selected sections or the full draft, and responses will be kept confidential, with any public reporting aggregated and anonymised. The field test will begin when the exposure draft and public consultation are published, and participants will have 70 days from that point to return the survey. Companies that register interest will be asked to confirm participation within one week of publication of the exposure draft, with detailed instructions and a tailored questionnaire to follow. EFRAG also plans webinars on 22 July 2026 and follow-up interviews or workshops in October 2026 during the final 30 days of the consultation period.