ESMA - European Securities and Markets Authority

12/13/2024 | Press release | Distributed by Public on 12/13/2024 07:32

ESMA consults on proposals to digitalise sustainability and financial disclosures

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 Officer
[email protected]