EFRAG has released its first progress report on simplifying the European Sustainability Reporting Standards (ESRS), following the European Commission’s March 2024 request to reduce complexity for companies reporting under the Corporate Sustainability Reporting Directive (CSRD) (efrag.org). The report outlines EFRAG’s activation of six key levers aiming to achieve over a 50% reduction in mandatory datapoints: simplification of the Double Materiality Assessment (Lever 1); better readability and integration of sustainability statements in corporate reporting (Lever 2); modifying the relationship between Minimum Disclosure Requirements and topical specifications (Lever 3); enhancing clarity and accessibility (Lever 4); introducing additional burden-reduction reliefs (Lever 5); and improving interoperability with other standards (Lever 6).

EFRAG confirmed it will continue extensive consultations with stakeholders, including companies, auditors, and NGOs, before delivering final recommendations to the European Commission by November 2025 (efrag.org). The goal is to maintain high-quality sustainability disclosures while minimizing unnecessary administrative burden, ensuring that ESRS remains a practical and effective tool for advancing corporate sustainability across Europe.