EFRAG Shared Revised ESRS Exposure Drafts and Launches 60-Day Public Consultation
EFRAG published the revised and simplified Exposure Drafts of the European Sustainability Reporting Standards (ESRS), launching a 60-day public consultation survey to gather feedback from stakeholders across the EU corporate reporting ecosystem.
This major step follows the European Commission’s Omnibus initiative and its formal request to EFRAG in March 2025 to deliver a critical simplification to the ESRS adopted in 2023. The objective: make sustainability reporting under the Corporate Sustainability Reporting Directive (CSRD) more manageable while preserving its relevance and alignment with the European Green Deal.
Following extensive feedback from companies already reporting under the CSRD as well as those preparing to do so, EFRAG focused on cutting complexity and improving usability. Drawing upon over 800 survey responses and stakeholder engagements, EFRAG applied top-down simplification strategies and levers together with a bottom-up detailed review of all datapoints. This includes streamlining the double materiality assessment, reducing overlaps across standards, clarifying language and structure, and removing all voluntary disclosures. New relief mechanisms have also been introduced, such as exemptions where reporting would cause undue cost or effort.