On 3 July 2026, the European Commission (EC) adopted the finalised version of the revised European Sustainability Reporting Standards (ESRS). There will now follow a two-month scrutiny period, which can be prolonged by an additional two months, where the delegated act will be passed to the European Parliament and the Council of the EU. The new regulation will enter force once this scrutiny period is over, and the reporting requirements will be mandatory for reporting periods beginning on or after 1 January 2027. At the same time, the EC has also adopted a new voluntary reporting standard for entities not captured by mandatory reporting requirements. This completes a long revision process which has involved technical advice and consultation with the European Financial Reporting Advisory Group (EFRAG) and stakeholders, which has aimed to simplify the requirements of ESRS reporting and reduce the burden on reporting entities.
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The Science Based Targets initiative (SBTi) has released the second version of its Corporate Net Zero Standard. This builds on the first version of the standard that was released in 2021 and aims to provide a framework to assess, certify and track companies’ carbon reduction commitments and support science-based climate target setting
This alert summarises the key changes made by the European Commission in their new draft of revised ESRS.
IFRS Sustainability Disclosure Standards – Example Sustainability-related Financial Disclosures publication now available.
This article breaks down how sustainability priorities vary across North America, South America, Europe, Asia‑Pacific and Africa, revealing why local realities shape strategy and how mid‑market firms can turn ESG into commercial advantage.
The EU Council approves Directive on the simplification of sustainability reporting and due diligence requirements.
This update aims to summarise the key changes to European sustainability reporting, and the implications for entities preparing sustainability reports in 2026.
The EU Council and Parliament reach an agreement that furthers progress toward the simplification of sustainability reporting and due diligence requirements.
The ISSB has amended IFRS S2 to provide targeted reliefs for companies when calculating and disclosing their greenhouse gas emissions.
The European Financial Reporting Advisory Group issues technical advice to the European Commission on revising the European Sustainability Reporting Standards.
The EU Parliament has made further progress on its position regarding proposed Omnibus changes to the CSRD and CSDDD.
The EU Parliament continues negotiations on its position regarding proposed Omnibus changes to the CSRD and CSDDD.
Mid-market firms are scaling sustainability for growth, not just compliance. Grant Thornton’s International Business Report (IBR) 2025 report reveals how sustainability investments are driving profitability, resilience and global expansion — despite regulatory shifts and political uncertainty.
The ISSB has published guidance on IFRS SDS requirements for disclosing financial effects of sustainability-related risks and opportunities.
The European Financial Reporting Advisory Group has issued 12 Exposure Drafts revising all existing ESRS, with a 60-day public consultation period.
The European Commission has adopted 'quick fix' amendments to the European Sustainability Reporting Standards, providing relief for Wave 1 entities.