Plan delivered to simplify Sustainability Reporting Standards

A plan of the steps to modify and simplify the European Sustainability Reporting Standards (ESRS) has been produced by the European Financial Reporting Advisory Group (EFRAG) and delivered to the European Commission on 25 April 2025. 

The work plan focuses on reducing reporting burdens while still maintaining robust, effective sustainability disclosures – a difficult balance to achieve.

EFRAG are working under their mandate received on 27 March 2025 to provide technical advice on the revision and simplification of the ESRS.  This is part of the EU Omnibus package that is looking at reducing the bureaucracy involved in sustainability reporting.

The mandate falls within EFRAG’s role as technical advisor to the European Commission under the Corporate Sustainability Reporting Directive.

This work plan has been fast tracked, similar to the Stop the Clock Directive.

EFRAG’s Sustainability Reporting Board approved the comprehensive and fast-tracked work plan to deliver its technical advice by 31 October 2025.

EFRAG has indicated that it will leverage experience from the first wave of companies that issue their sustainability statements for the 2024 financial year (the practical implementation of the ESRS adopted on 31 July 2023) to ensure changes that substantially reduce the amount of mandatory data points and the burden for the practical application of ESRS while maintaining the robustness and effectiveness of sustainability reporting.

The work plan sets out the key activities, deliverables, and stakeholder engagement that EFRAG will undertake in order to meet the target deadline of 31 October 2025 for delivering EFRAG’s technical advice to the European Commission.

Stakeholder engagement is a key element of the work plan with an immediate focus on collecting evidence on the existing issues and suggested amendments. A public call for input was made on 8 April 2025 with a deadline for submitting feedback of Tuesday 6 May 2025.

Interviews and workshops will also be arranged with stakeholders.

The work plan also includes a public consultation on the exposure drafts amending the ESRS (when they become available) which will take place between the end of July and early September 2025.

The work plan is available to the public and it will be challenging to meet the 31 October 2025 deadline.

For more information, please contact author Michelle McLoughlin, Senior Knowledge Consultant, or your usual contact in the Corporate or ESG groups. 

Date published: 29 April 2025