The European Financial Reporting Advisory Group (EFRAG) published a Basis for Conclusions and four accompanying documents to support stakeholders’ understanding of the draft simplified European Sustainability Reporting Standards (ESRS). The Basis for Conclusions also serves as a feedback statement, setting out how input from the public consultation influenced the amendments. The package includes a cost–benefit analysis, logs of amendments for the 12 standards and Annex II, a comparative table of texts (Set 1, Exposure Draft, and Technical Advice) for the 12 standards and Annex II, and an explanatory note on Article 29b and its annex. EFRAG frames the draft simplified ESRS as part of its technical advice to the European Commission, following a 2025 request from Commissioner Maria Luís Albuquerque to simplify the ESRS delegated act, drawing on CSRD “Wave 1” reporting experience, a 60-day public consultation, outreach and two field tests. EFRAG also indicated that releasing the Basis for Conclusions and accompanying materials completes the mandate it received to simplify ESRS.
European Financial Reporting Advisory Group 2025-12-19
European Financial Reporting Advisory Group publishes Basis for Conclusions and supporting materials for draft simplified ESRS
The European Financial Reporting Advisory Group (EFRAG) released a Basis for Conclusions and four documents to help stakeholders understand the draft simplified European Sustainability Reporting Standards (ESRS). This package includes a cost–benefit analysis, amendment logs, a comparative table, and an explanatory note, reflecting public consultation feedback. EFRAG's release fulfills its mandate to simplify ESRS as part of its technical advice to the European Commission.