EFRAG’s multi-lingual templates support VSME reporting across Europe
EFRAG is steadily building the foundations for digital sustainability reporting by small and medium-sized enterprises (SMEs). On 3 October, it released a multi-language update to the VSME Digital Template, enabling users to generate Inline XBRL reports in Spanish, Polish, Lithuanian and Portuguese, in addition to English. Further translations, including German, French and Dutch, are expected in November. The update also brings usability improvements and fixes, supporting EFRAG’s open-source and collaborative approach.
The release is accompanied this week with a summary of a key symposium held in May at the European Accounting Association Congress in Rome. Hosted by EFRAG and the Italian standard setter OIC, the session explored how sustainability reporting can serve SMEs as a strategic tool rather than a compliance obligation. The VSME Standard, designed for non-listed undertakings with fewer than 250 employees, was central to the discussion.
Panellists from the banking sector, business associations, academia and the corporate world shared a strong message: SMEs are adopting sustainable practices, but many do not know how to report on them. Standardised digital tools are critical, and so is capacity building. Banks and supply chain partners can help by aligning their data requests with the VSME Standard, reducing duplication and administrative burden.
Structured, machine-readable reporting in multiple languages removes some of the key barriers to adoption. EFRAG’s practical, modular approach offers SMEs across Europe the tools they need to report clearly, consistently and comparably.
Read the full event summary or explore the updated VSME templates here.
