The European Securities and Markets Authority (ESMA) supports a robust assessment of materiality, but expresses concern about the suggested “rebuttable presumption” approach in its response to the European Financial Reporting Advisory Group’s (EFRAG) public consultation on the first set of draft European sustainability reporting standards, published on Monday 8 August (see EUROPE B12989A1).
According to ESMA, EFRAG should “avoid requiring explanations for why certain disclosures...