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.
