EC consultation on revised ESRS

Accountancy Europe provided feedback to the European Commission’s (EC) draft delegated act with the revised European Sustainability Reporting Standards (ESRS).

Better Regulation and simplification

We appreciate that the EC made limited changes to EFRAG’s technical advice as this is in line with the principles of Better Regulation — see more in our February 2026 statement. It strikes a good balance between simplification and supporting the Green Deal’s policy objectives, as well as promotes stability in the European Union’s (EU) sustainability reporting ecosystem.

We note that the revised ESRS are simpler, but only practice will confirm the real burden reduction.

Main asks

We:

• call for the revised ESRS to enter into force as soon as possible;
• call for the finalisation of the delegated act with only the edits which are absolutely necessary;
• call for the clarification of a few elements on the new provision on asset management activities as part of this delegated act.

Future issues

Accountancy Europe notes that the remaining challenging issues with the standards, such as double materiality assessments, the perimeter of reporting, anticipated financial effects, application of reliefs, etc. can be addressed in the future, including when developing guidance.