On 6 May 2026, the European Commission launched, as part of its simplification agenda, a public feedback procedure on the draft final versions of the revised European Sustainability Reporting Standards (“ESRS“) and the Voluntary Sustainability Reporting Standard for Smaller Companies (“VSRS“). The consultation procedure will expire on 3 June 2026. The draft revised ESRS and new VSRS can be accessed at this link, respectively this link.

According to the Commission, the revised ESRS are expected to cut per‑company reporting costs by more than 30%, reduce mandatory datapoints by over 60%, and cut total datapoints by over 70%, while preserving the quality and usefulness of sustainability disclosures for investors and other stakeholders.

The revised ESRS are expected to apply to financial years beginning on or after 1 January 2027, with companies having the option to apply them earlier for financial years beginning between 1 January 2026 and 31 December 2026.

Following the consultation, the Commission plans to adopt the final delegated act in the second quarter of 2026, which will then be subject to a two‑month scrutiny period by the European Parliament and the Council, extendable by a further two months.