ESMA consultation window closing soon for ESEF updates
The European Securities and Markets Authority (ESMA) is reminding stakeholders to submit their views by 31 March 2025 on proposed updates to digital reporting rules.
The public consultation covers draft amendments to the European Single Electronic Format (ESEF) Regulatory Technical Standards (RTS) for sustainability reporting, as well as changes to the RTS on the European Electronic Access Point (EEAP).
The consultation paper outlines how ESMA proposes to integrate sustainability reporting into the existing ESEF framework, building on the experience of digital financial reporting and leveraging taxonomies developed by the European Financial Reporting Advisory Group (EFRAG). It also explores updates to how notes to the IFRS consolidated financial statements are marked up, and proposes targeted revisions to the EEAP framework.
This is part of a wider move to ensure that sustainability disclosures under the Corporate Sustainability Reporting Directive (CSRD) are delivered in a machine-readable, structured format. Large undertakings and parent companies of large groups will be required to tag both financial and sustainability data using Inline XBRL, ensuring interoperability, comparability and digital accessibility across the EU.
You can read the full consultation and submit your feedback here.
