EFRAG rethinks European sustainability standards
EFRAG has launched a rapid review of the European Sustainability Reporting Standards (ESRS), with the aim of substantially simplifying the framework by the end of October 2025.
The initiative responds to the European Commission’s “Omnibus” proposals and is designed to reduce burdens without compromising decision-useful sustainability information.
Under a fast-tracked mandate from the Commission, EFRAG will revise the first set of ESRS to streamline narrative requirements, clarify the materiality principle, and remove or reclassify datapoints deemed less important. The goal is to cut down on compliance costs, simplify structure, and enhance interoperability with global frameworks—especially as preparers across Europe face first-time application challenges under the Corporate Sustainability Reporting Directive (CSRD). A public call for input and a packed schedule of stakeholder outreach are already underway, feeding into Exposure Drafts expected this July.
This accelerated review is a part of a recent pivot for Europe’s sustainability reporting regime, signalling a stronger focus on usability and proportionality. We hope the simplification effort will see further reliance on the structured, digital backbone of the ESRS taxonomy. Reducing friction is welcome, but reliable, digital sustainability data must remain non-negotiable.
Learn more about the ESRS revision process here.
