Accountancy Europe has urged the European Commission (EC) not to make further reductions to the draft simplified European Sustainability Reporting Standards (ESRS) developed by EFRAG.
Noting the consultation and field-testing on the standards carried out by EFRAG, it said the EC should “keep the standard-setting process technical and avoid subjecting it to political pressures”.
“The EC should refrain from further diluting the standards or reopening technical elements,” Accountancy Europe’s statement reads. “The EC should instead focus on critical changes and addressing fatal flaws to ultimately improve the ESRS’ robustness and their ability to serve policy objective as well as maximise alignment with the ISSB standards.”
