Latest news from EU institutions and bodies

ESMA consults on proposals to digitalise sustainability and financial disclosures 13 December 2024 Electronic reporting Financial reporting Sustainable finance The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published a Consultation Paper seeking stakeholders’ views on how the European Single Electronic Format (ESEF) can be applied to sustainability reporting. The proposals also aim to ease the burden associated with financial reporting.  It is a priority for ESMA that investors are able to effectively access relevant and comparable information, enabling them to enhance and accelerate their data-driven investment strategies. Digitalised sustainability and financial information from undertakings will be integrated in the future European Single Access Point (ESAP), ensuring the efficient access and use of this information by investors.  The Consultation Paper includes proposals for: Defining the marking up rules for sustainability reporting; with a phased implementation for ESRS sustainability statements in three steps, each lasting two years, and a full implementation for Article 8 disclosures; and Redefining the marking up approach for the Notes to the IFRS consolidated financial statements.  The Consultation Paper also proposes amendments to the Regulatory Technical Standards on the European Electronic Access Point.  Next steps Interested stakeholders are invited to submit their feedback by 31 March 2025. These proposals are of particular relevance to listed and non-listed undertakings and parent undertakings of large groups, auditors, investors, data analysts and other users of financial information and other electronic reporting stakeholders at large impacted by the ESEF Regulation. ESMA will consider the feedback it received to this consultation in Q2 2025. ESMA expects to publish a final report in Q3 2025 and to submit the draft technical standards to the European Commission for endorsement.   Further information: Dan Nacu-Manole Communications Officerpress@esma.europa.eu 13/12/2024 ESMA32-2009130576-3024 Consultation Paper on the RTS on the European Single Electronic Format (ESEF) for sustainability reporting and on the amendments to the RTS on the European Electronic Access Point (EEAP) 13/12/2024 ESMA32-2009130576-3266 Annex VII - ESES RTS - Schema of the core ESRS taxonomy 13/12/2024 ESMA32-2009130576-3267 Annex VIII - ESEF RTS - Schema of the core Article 8 taxonomy 13/12/2024 ESEF EEAP CP Taxonomy set prototype Consultation on the ESEF RTS for sustainability reporting and on the amendments to the EEAP RTS