The European Commission has opened a one-month “Have-Your-Say” public feedback period – from 06 May 2026 to 03 June 2026 - to gather input on the draft final versions of the revised European Sustainability Reporting Standards (ESRS), and a voluntary standard for smaller companies.
These revisions build on the Omnibus I simplification package, which streamlines sustainability reporting in the EU and reduces the number of companies in scope of the Corporate Sustainability Reporting Directive (CSRD).
The revised ESRS represent a recalibration of European sustainability reporting policy, balancing simplification pressure with a continued commitment to double materiality and transition transparency.
The 70% datapoint reduction is expected to lower preparation costs, ease audit readiness and shorten reporting timelines for in-scope companies. At the same time, retention of double materiality means that the structural complexity of EU sustainability reporting remains higher than that of frameworks such as ISSB, built solely around financial materiality.
Whilst this dual lens to materiality preserves a deeper view of corporate impact on the environment and society, which is increasingly relevant for stewardship, transition assessment and impact investing strategies, it also means that multinational investors active in both European and global markets will need to continue navigating differences between ESRS and ISSB-aligned disclosures.
Overall, these changes are expected to reduce reporting costs per company by more than 30% and streamline the reporting process for EU businesses.
The final draft of the revised ESRS is currently open for public feedback until the 03rd June 2026, at which point the Commission will seek to adopt the two amendments via the European Commission.
You can give feedback using this link: Revised European sustainability reporting standards
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