Further to our recent report, EFRAG launched a 60-day public consultation (to September 29) on revised and simplified Exposure Drafts of the European Sustainability Reporting Standards (ESRS). According to the release, the Exposure Drafts reflect a 57% reduction in mandatory (i.e., if material) data points; a 68% reduction in total (mandatory + voluntary) disclosures; and a reduction of 55% in the overall length of the standards. The proposed revisions, which were prompted by a European Commission mandate to simplify the standards in conjunction with the Omnibus Simplification Proposal, were reportedly informed by 800 survey responses and stakeholder engagements.
In early May, the Society submitted a letter and responses to EFRAG's online survey in connection with its initial public consultation on the ESRS revisions, which we then summarized and incorporated into an updated and refined position paper submitted in June to numerous members of the European Parliament, Commission, and Council in advance of the European Parliament’s internal deadline to submit its proposed amendments on the Commission’s Omnibus Simplification Proposal.
The Society Plans to respond to discrete points raised in the current consultation (pdf here). If you are interested in participating and have not already expressed your interest, please email Randi Morrison.