CSRD Simplification Takes Shape: Revised ESRS And Voluntary Standard Published

The revised European Sustainability Reporting Standards (Revised ESRS) and the sustainability reporting standard for voluntary use by undertakings outside mandatory sustainability reporting requirements (the Voluntary Standard) have now been published in the Official Journal. Together, they represent an important step in the EU’s efforts to simplify sustainability reporting under the Corporate Sustainability Reporting Directive (CSRD) and to make value chain reporting requests more proportionate.

Revised ESRS

The Revised ESRS replace the existing ESRS and are intended to reduce the complexity and volume of sustainability disclosures for undertakings within scope of the CSRD. Key changes include a reduction in the number of datapoints, a greater focus on quantitative disclosures, further differentiation between mandatory and voluntary datapoints, clarification of materiality requirements and closer alignment with global sustainability reporting frameworks.