Our response highlights the importance of comprehensive climate-related disclosures that meet investors' data needs on transition plans. Alongside streamlining disclosures for use, preserving high-quality should be a priority for any revision to standards.
Following the publication of the Omnibus proposals on 26 February 2025, The European Financial Reporting Advisory Group (EFRAG) received a specific mandate from the European Commission (EC) to provide technical advice on the revision and simplification of the existing European Sustainability Reporting Standards (ESRS).
To gather public input from all relevant stakeholders in relation to potential revisions, EFRAG launched a consultation questionnaire. IIGCC prepared and submitted a response to the consultation this month.
IIGCC’s response highlights several key priorities for investors:
- Access to high-quality, comparable data to assess climate-related risks and opportunities, as currently articulated in the ESRS climate-related disclosures.
- Preserving ESRS- E1 in full as part of the mandatory disclosure standards to assess corporate transition efforts, and working to achieve good levels of interoperability between ESRS and key disclosures used to benchmark companies.
- Preserving common data point and disclosure areas across ESRS and other frameworks, including ISSB.
If you have any questions, or would like to join our EU policy working group, please reach out to Hajira Kamran.