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Items tagged with "EU"

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Simplified ESRS need use, not another haircut

Hans Buysse, Chair of the European Federation of Financial Analysts Societies (EFFAS) makes a timely (and perhaps for some, uncomfortable) case for European sustainability reporting. After months of political and technical pressure, the simplified European Sustainability Reporting Standards were shaped to strike a balance between ambition and practicality, at a point where both have been in […]

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EFRAG invites market input to shape VSME digital tools and platforms

EFRAG invites market input to shape VSME digital tools and platforms

The European Financial Reporting Advisory Group (EFRAG) has opened two calls for expression of interest to support wider uptake of the Voluntary Sustainability Reporting Standard for SMEs (VSME) across the EU.

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Finland moves to mandatory XBRL reporting for company accounts

Finland moves to mandatory XBRL reporting for company accounts

Finland is preparing for a significant shift in how company financial information is filed, stored and used. From 2027, most Finnish companies will be required to submit their financial statements in structured digital format, replacing today’s largely PDF-based reporting with Inline XBRL.

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EU Omnibus deal softens CSRD rollback, but still shrinks the field

The European Parliament Legal Affairs Committee and the Council have now struck a provisional Omnibus I deal that again rewrites the scope of EU sustainability reporting and due diligence rules.

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Centralise. Simplify… 

Yesterday Brussels fired the starting gun on a new phase of capital-markets integration across Europe. The Commission’s “market integration and supervision” package is explicitly aimed at enlarging Europe’s capital markets that are presently too small and fragmented to finance significant economic transitions at scale or to compete with the depth and liquidity of larger markets.

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EU reviews green taxonomy rules

On 7 November, the European Commission launched a fresh call for evidence on amendments to the Climate and Environmental Delegated Acts under the EU Taxonomy Regulation. The consultation, which closes today, seeks stakeholder views on how to improve the technical screening criteria that determine which economic activities qualify as environmentally sustainable.

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Reducing Burden

On Tuesday, ESMA held its first Data Day with Chair Verena Ross setting out an ambitious vision for reporting simplification. Ross was direct about the problem: the current model, where each regulatory need generates a new data request, has created a fragmented, siloed reporting landscape.

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EU Omnibus vote materially waters down sustainability rules

The European Parliament has voted to significantly narrow the scope of the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD).

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ESRS “quick fix” comes into play… probably? 

Earlier this week the “quick fix” to the European Sustainability Reporting Standards (ESRS) was published in the Official Journal of the European Union, formally enshrining temporary relief measures for early reporters. Adopted by the European Commission in July, the Delegated Act entered into force yesterday (13 November), and applies to financial years from 1 January […]

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Accountancy Europe urges rigour and global alignment in ESRS

Accountancy Europe has thrown its support behind the newly simplified European Sustainability Reporting Standards (ESRS), praising EFRAG’s efforts to streamline the framework. In its response, the federation applauds the shift towards clearer, less granular requirements, describing the draft as a more practical and navigable set of sustainability rules.

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