On 31 July 2025, the European Financial Reporting Advisory Group (EFRAG), technical advisor to the European Commission, published exposure drafts of revised European Sustainability Reporting Standards (ESRS) for public consultation (the Exposure Drafts). According to EFRAG's press release, the revised drafts provide for a 57% reduction in mandatory datapoints and 68% overall.
Each of the 12 Exposure Drafts is accompanied by a "log of amendments".
The consultation closes on 29 September 2025 and EFRAG is due to deliver its final technical advice to the Commission by 30 November 2025.
EFRAG also published a series of documents to accompany the Exposure Drafts, including non-binding illustrative guidance, FAQ on the process and content of the Exposure Drafts, and a summary of feedback received from stakeholders through interviews and outreach events held prior to the development of the Exposure Drafts.
Background and next steps
In March 2025 the European Commission requested EFRAG to provide technical advice on the simplification of the ESRS to make sustainability reporting under the Corporate Sustainability Reporting Directive (CSRD) more manageable. EFRAG is due to provide this technical advice by 30 November 2025. The feedback on the Exposure Drafts will form part of the technical advice.
The ESRS review process forms part of the Omnibus Simplification Package proposed by the European Commission in February 2025, which includes proposed amendments to CSRD and CSDDD.
Trilogue negotiations on the Omnibus proposal are expected to commence later this year, once the European Parliament agrees its position. The Council adopted its negotiating mandate in June 2025. Once adopted, Member States will have 12 months to transpose the amending directive.
Read more:
Ireland Transposes 'Stop-the-Clock' Directive and Clarifies CSRD Scope
Omnibus Package: Proposed Amendments to CSRD and CSDDD
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.
