ESRS revision: First public EFRAG papers

On 10 July 2025, the EFRAG Secretariat issued the documents for the meeting of the Sustainability Reporting Technical Expert Group (SR TEG) on 10 July 2025. This marks the first time that working papers from the EFRAG bodies on the revision of ESRS Set 1 (Delegated Regulation (EU) 2023/2772) have been made available to the general public. These meeting papers contain the current status of work on simplifying ESRS Set 1 and discuss, on the one hand, simplifications in relation to conceptual aspects and, on the other hand, ideas for a significant reduction in reporting requirements. This status of work is the result of discussions held by the EFRAG bodies, which have not been made public to date. Before the proposals are expected to be put out for public consultation at the end of July 2025, they will need to be discussed publicly and adopted by the EFRAG SR TEG and the EFRAG Sustainability Reporting Board.

Background

As part of the European Commission’s (COM) Omnibus 1 initiative of 26 February 2025, a revision of ESRS Set 1 is planned. The COM had sent a corresponding request for advice to EFRAG on 27 March 2025. On 1 July 2025, the COM also granted EFRAG an extension of the deadline, which now allows for a 60-day consultation period for the new drafts.