Maria Luís Albuquerque, Commissioner for Financial Services, has given the European Financial Reporting Advisory Group (EFRAG) another month to deliver its technical advice on the revision and simplification of the European Sustainability Reporting Standards (ESRS) for companies, in a letter received on Tuesday 1 July (see EUROPE 13665/28).
The deadline has therefore been extended from Friday 31 October to Sunday 30 November. As a result, EFRAG has decided to extend the duration of the public consultation from 30 to 45 days from the end of July. The public consultation period should now last 60 days, from the end of July to the end of September 2025 (see EUROPE 13651/29).
This delay is granted because the Commissioner wants EFRAG to integrate several points before the launch of the public consultation on the draft revised standards: - additional data points and converting voluntary datapoints into mandatory datapoints; - consistency and readability; - voluntary disclosures and guidance; - modification of terms and concepts; - focus and relevance of reported information; - interoperability with global standards.
Read the letter: https://aeur.eu/f/hp1 (Original version in French by Anne Damiani)