EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
Recent Searches
EFRAG publishes Exposure Drafts of simplified ESRS
On 31 July, EFRAG published Exposure Drafts of a simplified set of the 12 ESRS Standards adopted by the European Commission (EC).
On 31 July, EFRAG published Exposure Drafts (EDs) of a simplified set of the 12 ESRS Standards adopted by the EC in July 2023 (the ‘ESRS Set 1’ or the ‘ESRS’). The EDs propose key simplifications to the ESRS Set 1, resulting in a 68% reduction of datapoints across all standards.
The revision of the ESRS is triggered by the European Commission’s (EC’s) first Omnibus Simplification Package announced in February 2025. The purpose of the package is to ease the reporting burden on European companies subject to the Corporate Sustainability Reporting Directive (CSRD).
EFRAG’s public consultation on the EDs is open until 29 September 2025. Feedback from respondents to the consultation will be considered to modify the EDs before EFRAG submits its technical advice to the EC by 30 November 2025. Subsequently, the EC will adopt revised ESRSs (which may differ from the technical advice) through a delegated act.