DRSC and national standard-setters from France, Italy and Spain draw up joint working paper with suggestions for the revision of the ESRS

Toward a simplified ESRS Set 1: On May 29, 2025, the DRSC and the standard-setters from France (Autorité des Normes Comptables, ANC), Italy (Organismo Italiano di Contabilità, OIC), and Spain (Instituto de Contabilidad y Auditoría de Cuentas, ICAC) jointly submitted a working paper to EFRAG on the revision of the ESRS. In the paper, the four standard-setters address points that EFRAG should consider when revising the ESRS.

They address conceptual simplifications, such as simplifications for the double materiality analysis, easier requirements for integrating the value chain and structural adjustments to the ESRS to avoid duplication. Furthermore, the paper addresses the optional application of the operational control concept, possibilities for a better link to the SFDR requirements, or a more flexible presentation of information in the sustainability statement. The need to consider interoperability with the ISSB standards is also emphasized.

Georg Lanfermann, President of the DRSC, comments on the working paper of the standard-setters: “EFRAG is facing a major challenge with the revision of the ESRS. With this cooperation, the national standard-setters want to send out a signal of their support for EFRAG in this process and emphasize the need for far-reaching changes to the ESRS.”

On 15 April 2025 the DRSC had already submitted its Position paper on the Revision of ESRS Set 1 to EFRAG. The paper outlines ten initial ideas developed by the DRSC’s Sustainability Reporting Technical Committee based on feedback received from preparers, auditors and other stakeholders.