The European Financial Reporting Advisory Group (EFRAG) has opened a public call for input to support its technical advice to the European Commission on a delegated act to revise and simplify European Sustainability Reporting Standards (ESRS) Set 1, following the Commission’s mandate of 27 March linked to the Omnibus proposals published on 26 February 2025. The technical advice is expected to be delivered to the Commission by 31 October 2025. Feedback is being sought via an online questionnaire from all relevant stakeholders, including input from the first wave of preparers that applied ESRS in their 2024 sustainability reports. The call focuses on the simplification areas highlighted in the Omnibus Explanatory Memorandum, including least important or problematic mandatory datapoints by Disclosure Requirement, clarifying unclear provisions, improving consistency with other EU legislation, refining materiality provisions to avoid unnecessary reporting and excessive assessment effort, simplifying the standards’ structure and presentation, and enhancing interoperability with global sustainability reporting standards. Responses will be anonymised and used only in aggregate, alongside evidence gathered through interviews and workshops with preparers, auditors and users. The deadline for submitting feedback is Tuesday 6 May.
European Financial Reporting Advisory Group 2025-04-08
European Financial Reporting Advisory Group launches public call for input to revise and simplify ESRS Set 1
The European Financial Reporting Advisory Group (EFRAG) has called for public input to aid its advice to the European Commission on revising European Sustainability Reporting Standards (ESRS) Set 1. This follows the Commission's mandate linked to the Omnibus proposals and seeks feedback on simplifying mandatory datapoints, clarifying provisions, and enhancing interoperability with global standards. Input is collected via an online questionnaire from stakeholders, including preparers of 2024 sustainability reports.