Statement on the launch of the consultation on the revised sustainability standards
EFRAG, the European Financial Reporting Advisory Group, has published initial proposals to simplify the European Sustainability Reporting Standards (ESRS). Götz Treber, Head of Centre of Competence Corporate Management and Regulation at GDV, comments:

“Reducing reporting requirements is the path to transparent and simple sustainability reporting that can contribute to transformation. EFRAG’s proposal to cut the overall scope of the sustainability reporting requirements — including both mandatory and voluntary datapoints — by 68 percent is a positive signal. It means that the EU is serious.
In many cases, however, it would have been more consistent to eliminate certain datapoints altogether, rather than merely consolidate or restructure them. For companies already in the process of implementing the CSRD, this may initially lead to increased effort and additional costs. It is encouraging that EFRAG has embedded the ‘materiality of information’ as a guiding principle. This allows reports to be more meaningful. We had previously called for a clear focus on information that is genuinely relevant for the users of the reports.”
Background
The public consultation on the revised ESRS will run from the end of July until the end of September 2025. EFRAG’s final technical advice on the revision of the sustainability standards is expected to be submitted to the European Commission by 30 November 2025.