Accountancy Europe urges rigour and global alignment in ESRS
Accountancy Europe has thrown its support behind the newly simplified European Sustainability Reporting Standards (ESRS), praising EFRAG’s efforts to streamline the framework. In its response, the federation applauds the shift towards clearer, less granular requirements, describing the draft as a more practical and navigable set of sustainability rules. But it also cautions: the real proof will come via implementation.
The revised standards seek to reduce reporting burden, including around the double materiality assessment. Accountancy Europe backs making “materiality of information” the guiding principle, while calling for further clarity on users’ needs, potential impacts, and disclosure objectives. The removal of voluntary disclosures and stronger links between general and topical standards are also seen as steps in the right direction.
Still, the accountancy profession is urging EFRAG not to sacrifice process for speed. With past criticism of the ESRS rollout in mind, it presses for more public debate and technical transparency. It also champions stronger ties with the International Sustainability Standards Board (ISSB), encouraging consistency in terminology, GHG boundaries, and disclosure of anticipated financial effects.
Cleaner standards mean clearer data – but simplification must be underpinned by robust structure, interoperability, and a commitment to transparency.
The full response from Accountancy Europe is here.
